PRESIDENTS & THE BUDGET

ALLEN & COOPER(2006) TIME/  1/30/34-36

Every president leaves behind a reputation relative to the budget and the economy. The latter is not necessarily in the hands of the president, as there are numerous unforeseen consequences, it is thought that about 20% to 25% is the responsibility of the president.

The biggest explosion of the deficit in at the last 40 years belongs to George W. Bush or Bush 2. The one that brought the deficits down was Bill Clinton. In fact, he is only president to bring the budget into the surplus. The biggest deficits were generated under Reagan, Bush 1 and Bush 2. Bush 1 raised taxes as did Clinton and the deficits were reduced.

The deficit relative to GDP is Reagan and Bush 1. The surplus was Clinton in spending occurred the most under LBJ followed by Bush 2 and Reagan. Total federal spending as percentage of GDP was Reagan and 2 years under Clinton.

The best steward of the entire process over time appears to be Clinton. The biggest spender adjusted for inflation appears to be Bush 2.