Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

10/31/2013 (1 year ago)

Catholic Online (www.catholic.org)

Only exception was the one government ran in 1943, during World War II

Save for one brief period during 1943, at the height of World War II, U.S. President Barack Obama has presided over five of the six largest annual budget deficits in the country's history.

These characters from 1943 are doffing their hats to a future America where the deficit runs at least five times as high under the reign of President Obama.

These characters from 1943 are doffing their hats to a future America where the deficit runs at least five times as high under the reign of President Obama.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

10/31/2013 (1 year ago)

Published in Politics & Policy

Keywords: Deficits, World War II era, Vietnam War era, President Obama


LOS ANGELES, CA (Catholic Online) - According to the Monthly Treasury Statement for fiscal 2013, which ended September 30, the deficit was $680.276 billion. In contrast, fiscal 2012, the deficit was $1.089193 trillion; in fiscal 2011, it was $1.296791 trillion; in fiscal 2010, it was $1.294204 trillion; and, in fiscal 2009, it was $1.415724 trillion.

The last full year that George W. Bush was president, the deficit was $454.798 billion in 2008.

Even when adjusted for inflation, the $680.276 billion fiscal 2013 deficit is only exceeded by one pre-Obama deficit - the one the U.S. government ran in 1943, during the height of World War II. The deficit was $54,554,000,000 - or $738,367,890,000 in inflation-adjusted 2013 dollars.

It's staggering: The 2013 deficit of $680.276 billion has exceeded the other annual deficits of the World War II era as well as the annual deficits that the U.S. government ran during World War I, the Vietnam War, or the final years of the Cold War.

Elected on November 4, 2008, Obama was elected a little over a month after the beginning of fiscal 2009. He was inaugurated on Jan. 20, 2009, almost four months into fiscal 2009. On Feb. 17, 2009, less than a month into his first term, and less than five full months into fiscal 2009, he signed the American Recovery and Reinvestment Act-an "economic stimulus" law that the Congressional Budget Office has estimated would increase the deficit by $833 billion over ten years.

HISTORICAL BUDGET DEFICITS:

Year                Deficit

2013              680,276,000,000

2012              1,089,193,000,000

2011              1,296,791,000,000

2010              1,294,204,000,000

2009              1,415,724,000,000

2008             454,798,000,000

2007             161,527,000,000

2006             248,197,000,000

2005             318,746,000,000

2004             412,845,000,000

2003             377,139,000,000

2002             157,791,000,000

2001             (127,276,000,000) [surplus]

2000              (236,917,000,000) [surplus]

1999             (124,360,000,000) [surplus]

1998             (69,242,000,000) [surplus]

1997             21,957,000,000

1996             107,431,000,000

1995             163,952,000,000

1994             203,186,000,000

1993             255,051,000,000

1992             290,321,000,000

1991             269,238,000,000

1990             221,036,000,000

1989             152,639,000,000

1988             155,178,000,000

1987             149,730,000,000

1986             221,227,000,000

1985             212,308,000,000

1984             185,367,000,000

1983             207,802,000,000

1982             127,977,000,000

1981              78,968,000,000

1980              73,830,000,000

Vietnam Era

Current Dollars; 2013 Dollars

1968             25,161,000,000            
1969                294,000,000

World War II Era

Current Dollars; 2013 Dollars

1946               15,936,000,000                                              191,353,770,000

1945               47,553,000,000                                            618,582,630,000

1944               47,557,000,000                                            632,694,550,000

1943               54,554,000,000                                            738,367,890,000

1942               20,503,000,000                                            294,524,970,000

1941               4,941,000,000                                             78,702,740,000

World War I Era

Current Dollars; 2013 Dollars

1919                      13,363,000,000                                    180,863,180,000

The annual deficit numbers for 1997-2013 come from the Monthly Treasury Statements. the annual deficit numbers for 1919 through 1996 come from the Historical Tables of the Office of Management and Budget.

A birth foretold: click here to learn more!

---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for May 2015
Universal:
That, rejecting the culture of indifference, we may care for our neighbours who suffer, especially the sick and the poor.
Evangelization: That Mary's intercession may help Christians in secularized cultures be ready to proclaim Jesus.


Rosaries, Crosses, Prayer Cards and more... by Catholic Shopping .com


Comments


More Politics & Policy

Thirteen cases that will dramatically change the American way of life stand before Supreme Court Watch

Image of Heading into the final month of its annual term, the Supreme Court will need to render decisions on 13 very important cases that will dramatically affect the American way of life.

By Catholic Online (NEWS CONSORTIUM)

Heading into the final month of its annual term, the Supreme Court will need to render decisions on 13 very important cases that will dramatically affect the American way of life. The high court will decide whether same-sex couples have a right to marry ... continue reading


Mysterious company without assets plays role in Clinton's fortunes Watch

Image of In the meantime, the identities of several U.S. and foreign-based companies that Bill Clinton worked for have been disclosed in Hillary Clinton's recent financial report.

By Catholic Online (NEWS CONSORTIUM)

A mysterious company called WJC, LLC without assets or employees has been discovered in the financial files of Bill and Hillary Rodham Clinton. The former president has legally used the company to provide consulting and other services. This fact demonstrates ... continue reading


Obama's use of social media points to cozy relationship between White House, Silicon Valley Watch

Image of Recognized as the first American president of the social media age, Obama has already established a standard for how politicians connect with a digitally savvy electorate.

By Catholic Online (NEWS CONSORTIUM)

President Barack Obama was swept to victory in an age of tweets, Facebook, texting and social media. While this has gotten the vote out to younger members of the electorate, there are concerns that the instant gratification of the electronic age is trivializing ... continue reading


President Obama's domestic policies under heavy legal scrutiny Watch

Image of Many of President Obama's social policies may not stand up to scrutiny in a court of law.

By Catholic Online (NEWS CONSORTIUM)

United States President, Barack Obama will be leaving office in January of 2017. When we consider his legacy he leaves to the nation, we must take into account that many of his domestic policies - such as those on same-sex marriage, Obamacare and immigration ... continue reading


Obama radically reformed an important American system -- and you didn't even realize it! Watch

Image of

By Abigail James (NEWS CONSORTIUM)

While President Obama's constantly "reforms" areas of our legislation and laws, the traditional patent law has taken a hit. Although most Americans know very little and don't care very much about patent laws, the effect these changes will have on innovative America can ... continue reading


Democrats break ranks with Obama over secret trade bill Watch

Image of Senator Elizabeth, the Senior Democratic Senator from Massachusetts, is leading a bill which would force President Obama to be transparent in regards to his secret trade bill which only Congressional members may review.

By Matt Waterson (NEWS CONSORTIUM)

President Obama's secretive trade bill is coming under fire from some unlikely sources, namely Democratic Senators Joe Manchin (WV) and Elizabeth Warren (MA), who are both leading the charge for immediate consideration of a bill that would require the contents of ... continue reading


ISIS, IRAN, OBAMACARE: President Obama's legacy - very slim indeed! Watch

Image of A very nonplussed looking president, indeed.

By Catholic Online (NEWS CONSORTIUM)

United States President Barack Obama will be out of office shortly. How will historians judge him? Not too well, according to New York Post columnist John Podhoretz. "After the failure of the Arab Spring, the collapse of Libya, the failure to act on his ... continue reading


CREDIT WHERE IT'S DUE? Hillary Clinton had 'Leadership, Ownership, Stewardship' of Libyan policy 'from start to finish' Watch

Image of State Department Director of Policy and Planning Jake Sullivan and Secretary of State Hillary Clinton and President Barack Obama at the U.S.-ASEAN meeting in Cambodia on Nov. 20, 2012.

By Catholic Online (NEWS CONSORTIUM)

According to one of her top aides, former Secretary of State Hillary Clinton had "leadership/ownership/stewardship of this country's Libya policy from start to finish." That claim came in an email written by one of Clinton's top aides. The message was forwarded ... continue reading


All for naught? FBI admits that Patriot Act didn't lead to cracking major terrorist cases Watch

Image of Opponents, with the inspector general conclude that no major cases have been broken by use of the Patriot Act's records-snooping provisions.

By Catholic Online (NEWS CONSORTIUM)

It granted the Federal Bureau of Investigation bold new powers - but now the FBI admits that the Patriot Act didn't help them crack any major terrorism cases. The Justice Department's Inspector general Michael E. Horowitz now says there are issues that keep key ... continue reading


Karl Rove's American Crossroads no longer as powerful as it once was Watch

Image of American Crossroads began by Karl Rove and other powerful Republicans were at one time a most powerful force in American politics.

By Catholic Online (NEWS CONSORTIUM)

American Crossroads, created by Karl Rove and other powerful Republicans, was at one time a most powerful force in American politics. There is evidence, however, that this is changing. The American political landscape is changing, and the group is seeing the ... continue reading


All Politics & Policy News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Sirach 42:15-25
15 Next, I shall remind you of the works of the Lord, ... Read More

Psalm, Psalms 33:2-3, 4-5, 6-7, 8-9
2 Give thanks to Yahweh on the lyre, play for him on ... Read More

Gospel, Mark 10:46-52
46 They reached Jericho; and as he left Jericho with ... Read More

Saint of the Day

Saint of the Day for May 28th, 2015 Image

Bl. Margaret Pole
May 28: Martyr of England. She was born Margaret Plantagenet, the niece ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter