Federal Budget Balance under George W. Bush
Federal Budget Balance went from $269B in George W. Bush's first month to −$399B at month 48: a change of −248.3%. At that point in office it ranks #4 of 7 administrations since 1969. Official data from the U.S. Treasury (Monthly Treasury Statement).
All administrations at month 48
| Rank | Administration | Value at month 48 | Change since month 1 | Latest / end of month 48 | Primary federal source |
|---|---|---|---|---|---|
| #1 | Bill Clinton | −$111B | +60.6% | −$111B (month 48) | U.S. Treasury · MTSDS133FMS |
| #2 | Ronald Reagan | −$184B | — | −$184B (month 48) | U.S. Treasury · MTSDS133FMS |
| #3 | George H. W. Bush | −$327B | −111.0% | −$327B (month 48) | U.S. Treasury · MTSDS133FMS |
| #4 | George W. Bush | −$399B | −248.3% | −$399B (month 48) | U.S. Treasury · MTSDS133FMS |
| #5 | Barack Obama | −$1,061B | −39.2% | −$1,061B (month 48) | U.S. Treasury · MTSDS133FMS |
| #6 | Joe Biden | −$2,029B | +41.7% | −$2,029B (month 48) | U.S. Treasury · MTSDS133FMS |
| #7 | Donald Trump (first term) | −$3,348B | −473.3% | −$3,348B (month 48) | U.S. Treasury · MTSDS133FMS |
Methodology and source verification
Rolling 12-month sum of the monthly federal surplus or deficit (Treasury), in billions. Negative = deficit.
Every administration is aligned to its own inauguration: month 1 is the month it took office, and the comparison runs to month 48 (the first term). Each administration is compared at the same month in office, so a president halfway through a term is never measured against another's full four years.
Primary source: U.S. Treasury (Monthly Treasury Statement). Retrieved from the Federal Reserve Bank of St. Louis (FRED), series MTSDS133FMS, refreshed hourly. Latest observation 2026-09-01, first published 2026-10-16. Full methods: methodology.