As we observe Presidents Day, take a look at how much debt each president left the country.
President Franklin Roosevelt, who presided over most of World War II, left the country with more debt than any other president to date. Public debt as a share of GDP was at 95.7 percent in 1944, his last full calendar year in office.
There was no public debt in 1836, President Andrew Jackson’s final year in office. Presidents Martin Van Buren, John Tyler and Franklin Pierce are the only other presidents to leave office with debt at 1 percent of GDP or less.
It’s worth noting presidents do not have full control over the federal budget, so they don’t deserve full responsibility for debt levels when they leave office. Timing, wars and recessions cannot totally be pinned on presidents, and they have a major impact on the national debt. Still, the veto pen is a major tool in budget debates, and the president arguably deserves more credit or blame than any other individual.
Jason Russell is the contributors editor for the Washington Examiner.
