Over the past 50 years, 10 U.S. presidents have made annual budget requests to Congress, projecting deficits both big and small. But no other president compares to Barack Obama when it comes to the size and scale of the current budget deficit facing the United States.
The country is facing an 8.3 percent estimated average national deficit of a two-term Obama administration — the biggest of the past 50 years. By comparison, the current estimate for Obama is nearly double the percentage under Presidents Ronald Reagan and George H.W. Bush — and they were fighting the Cold War.
...So what does the current trajectory mean for the United States? We’re certainly no longer looking at a continuation of manageable deficits in the years to come. This is a dramatic change in the magnitude of annual shortfalls at the federal level. That’s one reason Heritage came up with a plan to fix the debt crisis.
And for the drones out there who point to President Clinton's "budget surplus", I'd like to remind you of one simple fact: the House of Representatives -- and specifically Speaker Newt Gingrich and Rep. John Kasich (now governor of Ohio) -- pinned Clinton's shoulders to the mat in order to force a balanced budget on the spend-happy Democrats.