Spending during the years Reagan budgeted (FY 1982–89) averaged 21.6% GDP, roughly tied with president Obama, but lagging behind President Trump's 38.2%, though much of that was due to the Covid-19 pandemic. Both Obama and Reagan faced a severe recession early in their administration. In addition, the public debt rose from 26% GDP in 1980 to 41% GDP by 1988. In dollar terms, the public debt rose from $712 billion in 1980 to $2.052 trillion in 1988, a roughly three-fold increase. The unemployment rate fell from 7% in 1980, to 5% in 1988. The inflation rate declined from 10% in 1980 to 4% in 1988.
Spending during the years Reagan budgeted (FY 1982–89) averaged 216% GDP roughly tied with president Obama but lagging behind President Trump's 382% though much of that was due to the Covid-19 pandemic Both Obama and Reagan faced a severe recession early in their administration In addition the public debt rose from 26% GDP in 1980 to 41% GDP by 1988 In dollar terms the public debt rose from $712 billion in 1980 to $2052 trillion in 1988 a roughly three-fold increase The unemployment rate fell from 7% in 1980 to 5% in 1988 The inflation rate declined from 10% in 1980 to 4% in 1988