"you are thinking FDR and LBJ"
Not in TOTAL DOLLARS, no.
First of all... all of LBJ's budgets were *balanced*, up until the very last one --- and it had only a teeny tiny little deficit (by modern standards)... so HE doesn't even make the 'big deficit list', no matter HOW you slice it. We haven't had a deficit as low as LBJ since... LBJ.
Now, it's *true* that (measured as a percentage of Gross National Product for his times) FDR's deficits were the largest of all (since paid off, of course. :-) What were they? Around 45% or so of GNP at their height?
But, he DID HAVE that little excuse of the US being engaged in the most MASSIVE DESTRUCTIVE and EXPENSIVE GLOBAL WAR of all time, fighting for our existence and that of our allies. So, 'ya gotta at least give him *that*.... (And, WE WON, which always takes some of the sting away!)
By point of reference: Vietnam (at it's height) never cost more then about 10% of GNP... and Iraq (to date) has just nosed into the territory of about 5% of GNP....
When you count the TOTAL DOLLAR SIZE of the annualized increases to federal deficit though (even under the phony modern rules that HIDE most of the true extent of the debts...), or when you just look at the MODERN ERA (you know: nothing older then '50 years' or so.... :-), I believe the results would be:
#1) Bush the Second
#2) Bush the First
#3) Reagan/Bush
BY A *MILE*! |
