OK the US was in a deep recession after the banking meltdown in 2008 which was followed by some moderate growth post 2009. That growth was in the neighbourhood 2-3%.

The last year of dubya was a nominally record deficit of 455 bil. Adjusted for inflation 2004 was moderately worse as was a number of Reagan and Bush 1 years. The deficits caused by WWII (the big one) was nearly 50% worse.

Since then the annual deficit is more than 3x Bush's final year and more than double the WWII. (remember the lack of funding to mandatory programs is not included in the deficit).

More interesting is the deficit represented almost 30-45% of the entire budget during 2009-2012. With a total GDP of almost 15 tril, government spending at 3 tril represents tril 20% of gdp and if there has been an increase of 30-45%, would the math not suggest a contribution of 6-9% not the paltry 2-3% growth occurred. Of course a large portion of that spending could be to cover the risk trade of banks and the support to the failed businessmodels of GM and Chrysler etc. I guess it could have been worse if the auto part suppliers were decimated and the wall steet execs didint receive their bonuses ...where woould the economy be?

Sung to the tune of The Platters great pretender

Yes its the great depression,

pretending that their doing well

their needs are such they spend too much

their bankrupt but no one can tell.

excerpt from

http://www.davemanuel.com/history-of-deficits-and-surpluses-in-the-united-states.php

Excerpt from

http://en.wikipedia.org/wiki/United_States_federal_budget

• 2012 United States federal budget - $3.7 trillion (submitted 2011 by President Obama)
• 2011 United States federal budget - $3.8 trillion (submitted 2010 by President Obama)
• 2010 United States federal budget - $3.6 trillion (submitted 2009 by President Obama)
• 2009 United States federal budget - $3.1 trillion (submitted 2008 by President Bush)
• 2008 United States federal budget - $2.9 trillion (submitted 2007 by President Bush)

Excerpt from http://www.davemanuel.com/history-of-deficits-and-surpluses-in-the-united-states.php