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Throughout American history, several U.S. Presidents have become known for their significant spending, often in response to the pressing needs of their time. These five presidents stand out for the scale of their expenditure on programs, wars, or responses to economic crises.
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Franklin D. Roosevelt (1933-1945)
FDR’s response to the Great Depression was a series of programs and policies collectively known as the New Deal. This expansive government spending initiative aimed to provide economic relief, recovery, and reform. It included massive public works projects, financial reforms, and the establishment of social security. The New Deal marked a significant increase in government intervention in the economy and set a precedent for future federal spending on social programs.
Money approximately spent while in office: $1 Trillion
Ronald Reagan (1981-1989)
Known for Reaganomics, his presidency significantly increased military spending, a strategic move during the Cold War to exert economic and military pressure on the Soviet Union. Despite his advocacy for smaller government, the defense budget saw a considerable increase, contributing to the significant rise in national debt during his administration.
Money approximately spent while in office: $1.86 Trillion
George W. Bush (2001-2009)
Bush’s presidency saw a surge in spending due to the wars in Afghanistan and Iraq following the September 11 attacks. Additionally, his administration implemented major tax cuts and increased domestic spending, which included the Medicare Part D prescription drug program, leading to a substantial rise in federal expenditure.
Money approximately spent while in office: $5.85 Trillion
Barack Obama (2009-2017)
Facing the Great Recession, Obama’s administration passed the American Recovery and Reinvestment Act to stimulate the struggling economy. This act, along with the Affordable Care Act (Obamacare), which extended health insurance to millions of Americans, marked significant spending under his presidency.
Money approximately spent while in office: $8.6 Trillion
Donald Trump (2017-2021)
Trump’s presidency saw major tax cuts, particularly for corporations and high-income individuals, reducing federal revenue. There was also an increase in military spending and significant expenditure on border security. The unexpected COVID-19 pandemic in 2020 led to enormous government spending, including stimulus packages to support businesses and individuals affected by the pandemic.
Money approximately spent while in office: 6.7 Trillion
Each of these presidents faced unique challenges and opportunities that led them to significantly increase federal spending. Their legacies demonstrate the diverse reasons for and impacts of such spending in U.S. history.
Editor’s note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates’ editorial team.
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