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Big Government Biden

Terence P. Jeffrey on

In the first 18 full months that Joe Biden has been president -- February 2021 through July 2022 -- the federal government has spent $9,728,646,000,000, according to data published in the Monthly Treasury Statement.

Even when the historical spending numbers are adjusted for inflation into July 2022 dollars (using the Bureau of Labor Statistics' inflation calculator), no recent president comes close to having spent that kind of money in their first year and a half in office.

President Donald Trump spent $7,274,266,740,000 in July 2022 dollars in his first 18 full months. President Barack Obama spent $7,166,360,490,000. President George W. Bush spent $4,835,392,120,000. President Bill Clinton spent $4,287,553,940,000. President George H.W. Bush spent $3,705,774,660,000. President Ronald Reagan spent $3,123,980,640,000.

It is true that the United States is a more populous country now than it was in July 1982, when Reagan completed his first 18 full months in office, but federal spending has grown significantly faster than the population.

The $3,123,980,640,000 in July 2022 dollars that the federal government spent during Reagan's first year and a half equaled approximately $13,485 for each of the 231,664,000 people who, according to the Census Bureau, were living in the United States in July 1982.

The $9,728,646,000,000 that the federal government spent during Biden's first year and a half in office equaled approximately $29,229 for each of the 332,838,183 people who were living here this July.

 

In Trump's first 18 months, per capita spending was approximately $22,234 in July 2022 dollars. In Obama's first 18 months, it was approximately $23,168. Under George W. Bush, it was approximately $16,811. Under Clinton, it was approximately $16,470. Under George H.W. Bush, it was approximately $14,855. Under Reagan, it was approximately $13,485.

Biden is the spending champion of American presidents -- both in total overall spending and per capita spending.

But that is not his only achievement. He has also been collecting record taxes.

In the first 10 months of this fiscal year (October 2021 through July 2022), which will be Biden's first full fiscal year in office, the Treasury collected a record $4,104,725,000,000 in total taxes.

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