With federal "sequester" budget cuts scheduled to take effect on Friday, March 1, it again seems time to take another look at one aspect of federal spending.
The massive debt run up by the U.S. government is again in the spotlight, due to its longstanding habit of deficit spending. Of course, the debt figure is constantly increasing, but stands at about $16.5 trillion -- yes, trillion. That averages to about $52.5 thousand per U.S. citizen, according to usdebtclock.org.
Now, which U.S. president has added the most to that figure?
The answer? George W. Bush -- but just barely. In Bush's two terms (2001-2008), the deficit increased by $4.8 trillion, according to theallegiant.com.
In Barack Obama's first term, the deficit increased by $4.7 trillion.
And the same publication notes that the federal deficit doubled during Ronald Reagan's term (1980-88).
Also, Bill Clinton had operating surpluses in his two terms (1993-2001). The first term: $496 billion. The second term: $559 billion.
On Friday, March 1, the federal "sequester" is scheduled to take effect.
-- What are your thoughts on federal spending? The debt? Share your opinions in the comments below.
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