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The Balance used three scenarios for describing the debt addition during the Obama Administration: Debt added from when Obama was inaugurated January 20, 2009 ($10.6 trillion) to when he left office on January 20, 2017 ($20.0 trillion), an increase of $9.4 trillion. This calculation simply compares two points in time and does not analyze cause.
In 1835, the national debt hit a low of $33,733 when Andrew Jackson was president. But the U.S. started borrowing again as the economy entered a recession in 1837.
The national debt was up to $80,885 per person as of 2020. [153] The national debt equated to $59,143 per person U.S. population, or $159,759 per member of the U.S. working taxpayers, back in March 2016. [154] In 2008, $242 billion was spent on interest payments servicing the debt, out of a total tax revenue of $2.5 trillion, or 9.6%. Including ...
Republicans 24 million, Democrats 42 million." Commenting on his statement, The Economist reported that the difference increased by 5 million thereafter under Barack Obama by 2014. [2] From April 1945 to August 2023, of the 115 million net jobs added, 83 million (72%) were under Democrats and 32 million (28%) were under Republicans. [8]
Try not to choke on your coffee, but the nonpartisan Congressional Budget Office (CBO) projected that the Obama administration policies would dump $9.7 trillion onto the national debt by 2020. The ...
Every president since Harry Truman has added to the national debt. The debt ceiling has been raised 74 times since March 1962, [11] including 18 times under Ronald Reagan, eight times under Bill Clinton, seven times under George W. Bush and three times (as of August 2011) under Barack Obama.
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[34] [35] In the aftermath of the global financial crisis of 2007–08 and related significant revenue declines and spending increases, debt held by the public increased to $11.917 trillion by the end of July 2013, under the presidency of Barack Obama.