the debt at the end of the 1980 fiscal year, on September 30th, 1980, was $907,701,000,000.
On September 30th, 1981, it was $997,855,000,000. Averaging it out over the year gives a debt
of $246,997,260.27 per day.
Reagan took office 112 days later on January 20th, 1981.
The debt on that date could be estimated as $907,701,000,000 plus 112 x $246,997,260.27,
Bill Clinton was the first president to slow the rate of the accrual of debt after
the current out-of-control spending began with the Borrow and Spend Republicans in 1981.
amount of the senior Bush debt was $4,174,218,594,232.91 (according to
), and Clinton became president on January 20th, 1993. Bill Clinton saw $1,553,558,144,071.73 added to the national
debt during the eight years of his presidency.
However, from the start of fiscal
year 1994 (7 months after Clinton became president), until the start of fiscal year 2002
(7 months after Bush took office), the amount of money paid toward interest on the
existing Federal debt was $2,767,282,794,374.59 (http://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm
Therefore, no amount of the national debt is attributable to Bill Clinton - his
policies of higher taxes and reduced spending actually simultaneously reduced the
debt and brought about the strongest economy since World War II, despite the fiscal
disaster left in the wake of Reagan and the first Bush.
The debt was at $5,727,776,738,304.64 on January 19th, 2001, the last business day
before George W. Bush took the office of president. The debt was at $10,628,881,485,510.23 on
January 16th, 2009, the last business day before Barack H. Obama became president.
During his administration, George W. Bush
increased the national debt by $4,901,104,747,205.59
and personally approved of the creation of 46% of the entire national debt,
in only 8 years.
Starting in 2003, George W. Bush destroyed the world economy by encouraging U.S. banks
to make loans to those who could not afford them, through schemes such as the
Dream Downpayment Initiative"
, and through the elimination of oversight, such as
to prevent state securities laws
from being enforced on Bush's watch. Once Bush's policies led to their inevitable result of economic
the United States found itself in a situation where it had to increase the size of the annual Federal budget in order to
support and restore the economy, and then sustain that budget, to avoid another collapse.
The result of George W. Bush's Borrow-And-Spend Republicanism was a 2009 annual Federal government budget of $3,517,677,000,000,
and an economy too weak to avoid recession from cutting that budget.
Under President Barack Obama, Federal government spending was lowered by $61,464,000,000 in 2010, then raised from 2011-2013,
for a total of $285,687,000,000 in new debt attributable to the first term Obama Administration
That means that Ronald Wilson Reagan, George Herbert Walker Bush, and George Walker
Bush's Borrow-And-Spend Republican administrations oversaw, approved, or caused to be spent, almost all of the national debt, except
for as much as
The current calculation on the site is based on the U.S. Treasury's published Total
Public Debt Outstanding as of
Thursday, July 30, 2015,
when the debt was
Tuesday, September 04, 2007,
the debt was
This means that with the current national debt around
per day, or
Tell A Friend |
Send a Comment
© 2007-15 ReaganBushDebt.org