Barack Obama - The
national debt grew the most dollar-wise during President Obama's two terms. He added $7.917 trillion, a 68 percent increase, in seven years. Obama's budgets included the
economic stimulus package. It added $787 billion by cutting taxes, extending
unemployment benefits, and funding job-creating public works projects. The
Obama tax cuts added $858 billion to the debt in two years. Obama's budget included increased
defense spending to between $700 billion and $800 billion a year.
Federal income was down, thanks to lower tax receipts from the
2008 financial crisis. He also sponsored the
Patient Protection and Affordable Care Act. It was designed to reduce the debt by $143 billion over ten years. But these savings didn't show up until the later years. For more, see
National Debt Under Obama.
George W. Bush - President Bush added the second greatest amount to the debt, at $5.849 trillion. But that was a 101 percent increase to the debt. It was $5.8 trillion on September 30, 2001. That's the end of FY 2001, which was President Clinton's last budget. Bush responded to the
9/11 attacks by launching the
War on Terror. That drove
military spending to record levels of between $600-$800 billion a year. It included the
Iraq War, which cost $807.5 billion. President Bush also responded to the 2001 recession by passing
EGTRRA and
JGTRRA. These were known as the
Bush tax cuts and they further reduced revenue. He approved a
$700 billion bailout package for banks to combat the
2008 global financial crisis. Both Presidents Bush and Obama had to contend with higher
mandatory spending for
Social Security and Medicare. For more, see
President Obama Compared to President Bush Policies.
Franklin D. Roosevelt - President Roosevelt increased the debt the most percentage-wise. Although he only added $236 billion, this was a 1,048 percent increase over the $23 billion debt level left by President Hoover's last budget. Of course, the
Great Depression took an enormous bite out of revenues. The
New Deal cost billions. But FDR's debt major contribution to the debt was World War II spending. He added $209 billion to the debt between 1942-1945. For more, see
FDR Economic Policies.
Woodrow Wilson - President Wilson was the second largest contributor to the debt percentage-wise. Although he only added $21 billion, this was a 727 percent increase over the $2.9 billion debt level of his predecessor. Wilson had to pay for World War I. In fact, the Second Liberty Bond Act was enacted during his Presidency, giving
Congress the right to adopt the
national debt ceiling.