1. The largest deficits in history

When adjusted for inflation, Obama owns the seven highest deficits in history—surpassing the deficits incurred during World War II. Obama’s smallest deficit was still higher than the last deficit before he took office. While many try to argue that 2009’s spending should not count towards Obama’s spending record, 2009 was not actually constrained by the budget approved by President Bush. In fact, only three of FY2009’s 12 appropriations bills passed under Bush because the Democrats in Congress waited until Obama took office before going on a spending binge. So most of the spending that took place in 2009 was, in fact, approved by President Obama. This spending, which included Obama’s failed stimulus and bailouts, resulted in a 17.9 percent increase in spending over FY2008 compared to the 3 percent increase proposed by George W. Bush. This increase in spending was the highest annual spending increase since the Korean War.