Reaganomics VS Obamanomics
Yesterday a friend of mine stated that Obama “doubled down” on the national debt, and that debt under Reagan grew by 1-3% annually. I have heard him or others make similar statements in the past so I decided to do my own research. To quote Adam Smith " I am always willing to run some hazard of being tedious in order to ensure that I am perspicuous." Things get a little wordy, or, even worse, mathy below, so skip to the chart if detail is not your thing. The facts are below. National Debt ( Source: St. Louis Fed ) Reagan served as president from Jan 20th, 1981 to Jan 20th, 1989 At the end of Q1 1981 National debt stood at 964,531 million USD At the end of Q1 1989 National debt was 2,740,898 million USD This equals a total growth of 184% or a compound annual growth rate of 13.95% Obama served as president from Jan 20th, 2009 to Jan 20th, 2017 At the end of Q1 2009 National debt stood at 11,126,941 million USD At the end of Q1 2017 National debt was 19