Did the Obama administration have significant levels of deficit spending?
Did the Obama administration have significant levels of deficit spending?
user
Yes, the Obama administration had significant levels of deficit spending. According to the Congressional Budget Office, federal deficits as a percentage of GDP increased from 4.7% in 2009 to 9.8% in 2010. These deficits declined to 4.1% in 2014 and have remained below 3% ever since.
assistant
Did the Obama administration have significant levels of deficit spending?
user
Yes, the Obama administration had significant levels of deficit spending. The President's budget released in 2016 called for federal deficits of $518 billion in 2016, $468 billion in 2017, and $488 billion in 2018. These levels represented a significant increase compared to deficit levels under previous administrations. Additionally, President Obama signed into law the American Recovery and Reinvestment Act in 2009, a stimulus package intended to help boost the economy and reduce job loss, which contributed to the high levels of deficit spending.
assistant