Obama's Federal Debt Grew At A Slower Rate Than Reagan, H.W. Bush Or W. Bush - News Summed Up

Obama's Federal Debt Grew At A Slower Rate Than Reagan, H.W. Bush Or W. Bush


Republicans use a sound bite that the federal debt doubled under Obama. In looking at the numbers that is close to being numerically correct but falls short of being 100%. Impact from the Great RecessionAccording to the US National Bureau of Economic Research the Great Recession started in December 2007 and ended in June 2009. It remained over $1 trillion per year for four years and got below Bush’s last years deficit in fiscal 2015. Tax receipts fell, expenditures rose and Obama and Congress passed the American Economy and Reinvestment Act to combat the recession.


Source: Forbes January 15, 2018 17:03 UTC



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