Reply #17: A deficit of only 2.6% of GDP is very low for a republican president. [View All]

[snippy]

The last time a republican president had a deficit this low as a percentage of GDP was in fiscal year 1974. Eisenhower was the last fiscally conservative republican president. Republicans like to talk about LBJ as a big spender, but every republican president since Johnson has been a bigger spender than LBJ was.

Government spending under Eisenhower as a percentage of GDP averaged a little over 17.4%. Government spending under Johnson as a percentage of GDP was highest in his last three years, which were fiscal years 1967, 1968, and 1969. During those years, government spending as a percentage of GDP was 19.4%, 20.6%, and 19.4% respectively. This is an average of 19.8%. Every republican administration since has averaged a higher level of spending. However, if the Nixon/Ford years are considered as two separate administrations, the Nixon administration's spending averaged only 19.5% of GDP.

A comparison of government spending and the annual federal deficits accumulated since 1960 under republican presidents and under democratic presidents shows that republicans are bigger spenders and run much larger deficits than democrats. Bush has been about average as a big spender for republican presidents. If Bush was a democrat he would be the biggest spending democrat since WWII.

The Kennedy/Johnson administrations accumulated deficits of $53.5 billion or $269.9 billion in constant 2000 dollars. Annual spending by the federal government averaged 18.8% of GDP and the annual deficit never exceeded 3% of GDP.

The Nixon/Ford administrations accumulated deficits of $265.5 billion or $798.5 billion in constant 2000 dollars. Annual spending by the federal government averaged 19.9% of GDP and the annual deficit exceeded 3% of GDP 2 times.

The Carter administration accumulated deficits of $252.7 billion or $519.4 billion in constant 2000 dollars. Annual spending by the federal government averaged 21.2% of GDP and the annual deficit never exceeded 3% of GDP.

The Reagan administration accumulated deficits of $1,412.2 billion or $2,082.3 billion in constant 2000 dollars. Annual spending by the federal government averaged 22.3% of GDP and the annual deficit exceeded 3% of GDP 7 times.

The Bush the Lesser administration accumulated deficits of $1,035.8 billion or $1,241.5 billion in constant 2000 dollars. Annual spending by the federal government averaged 21.9% of GDP and the annual deficit exceeded 3% of GDP 4 times.

The Clinton administration accumulated a surplus of $62.5 billion or $15.9 billion in constant 2000 dollars. Annual spending by the federal government averaged 19.6% of GDP and the annual deficit never exceeded 3% of GDP.

The Bush the Liar administration has in just four years has accumulated deficits of $1,263.5 billion. and projects additional accumulated deficits during his administration of $1,296.5 billion. Annual spending by the federal government has averaged 19.9% of GDP and the annual deficit has exceeded 3% of GDP 2 times and almost certainly will again in the next fiscal year. All of the estimates included in these numbers are pre-Katrina and Rita, so the actual results for the estimated numbers probably will be much worse.

Thus, of the slightly more than $4.2 trillion in accumulated deficits since 1960, more than $3.9 trillion has been accumulated under republican presidents while only about $244 billion has been accumulated under democratic presidents.

And of the 15 times since 1960 that the annual deficit has exceeded 3% of GDP, every single time it was under a republican president. In that time the annual deficit has never exceeded 3% of GDP under a democratic president.

http://www.whitehouse.gov/omb/budget/fy2006/sheets/hist01z3.xls(Note: The first year of a presidential term operates under the budget and appropriations of the last year of the preceeding presidential term, except for any supplemental appropriation bills passed during such first year. The summary above does not include any such supplemental bills.)