President Barack Obama has now presided over five of the six largest annual budget deficits the U.S. government has ever run, according to data released yesterday by the U.S. Treasury.
In fiscal 2013, which ended Sept. 30, the deficit was $680.276 billion, according to the Monthly Treasury Statement released Wednesday.In 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.In fiscal 2008, the last full year that George W. Bush was president, the deficit was $454.798 billion.
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. That year, the deficit was $54,554,000,000–or $738,367,890,000 in inflation-adjusted 2013 dollars.
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. That year, the deficit was $54,554,000,000–or $738,367,890,000 in inflation-adjusted 2013 dollars.
