Money and politics. They’re basically inseparable. You hear it every election cycle: "This guy is a big spender" or "That administration blew the budget." But if you actually sit down and look at the raw numbers, the answer to which president spent the most money isn't as simple as checking a bank statement.
Honestly, it depends on how you define "spending." Are we talking about the total number of dollars that left the Treasury? Are we looking at how much the national debt grew? Or are we talking about spending as a percentage of the entire U.S. economy?
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If you just want the raw, unadjusted dollar amount, the answer is always going to be the most recent guy. Inflation makes sure of that. A billion dollars in 1944 bought a whole lot more than a billion dollars does in 2026. Because of this, looking at "nominal" dollars—the face value—is kinda useless for a real comparison.
To get the truth, we have to dig into the context of world wars, global pandemics, and economic collapses.
The Raw Dollar King: Donald Trump and Joe Biden
When people ask which president spent the most money in terms of actual cash flowing out the door, the spotlight usually hits Donald Trump and Joe Biden.
During the 2020 pandemic, the federal government basically turned on a giant money firehose. We’re talking about trillions of dollars in stimulus checks, PPP loans, and emergency healthcare funding. In the fiscal year 2020 alone, the government spent over $6.5 trillion. That was a record. Then, in 2021, it went even higher, hitting roughly $6.8 trillion.
Trump signed the CARES Act, which was a massive $2.2 trillion package. Later, Biden pushed through the American Rescue Plan at $1.9 trillion. If you add up the total outlays during their terms, they are objectively the biggest spenders in American history if you don't adjust for the size of the economy.
But is that fair?
Critics like Paul Campos or budget experts at the Tax Policy Center often argue that you have to look at "discretionary" versus "mandatory" spending. Most of what the government spends today is on autopilot. Social Security and Medicare happen regardless of who is in the Oval Office. When you strip that away, the "spending" looks a lot different.
The Percentage Heavyweight: Franklin D. Roosevelt
If we want to know who truly pushed the limits of the American wallet, we have to look at spending as a percentage of Gross Domestic Product (GDP). This basically measures how much of the country's total economic "pie" the government is eating.
By this metric, Franklin D. Roosevelt (FDR) is the undisputed heavyweight champion.
- The New Deal: FDR started his term during the Great Depression. He created dozens of agencies to get people back to work.
- World War II: This was the real kicker. By 1944, federal spending reached a mind-boggling 43% of GDP.
Think about that. Nearly half of every dollar generated in the United States was being spent by the federal government to win the war. No president has ever come close to that level of control over the economy since. For comparison, even with the COVID-19 spending spikes, the 2020-2021 levels peaked around 30-31% of GDP.
FDR didn't just spend money; he transformed the entire relationship between the citizen and the state. He holds the record for the largest percentage increase in the national debt, which grew by over 1,000% during his twelve years in office.
The National Debt Perspective
Sometimes when people ask about spending, what they really care about is the debt. Who left the biggest bill for our grandkids?
According to data from the U.S. Treasury, the national debt as of early 2026 has climbed past $38 trillion. It’s a number so big it feels fake.
- Ronald Reagan: Often called a fiscal conservative, Reagan actually oversaw a massive increase in debt. He combined large tax cuts with a huge buildup in military spending during the Cold War. Under his watch, the debt nearly tripled.
- George W. Bush: He inherited a surplus and left with a massive deficit. Between two wars in the Middle East and the 2008 financial crisis, the debt grew by roughly $6 trillion (about a 100% increase).
- Barack Obama: He had to deal with the fallout of the Great Recession. His administration added about $9 trillion to the debt, though the percentage increase was lower than Reagan’s or FDR’s.
The funny thing is, the "biggest spender" tag is often used as a political weapon. Republicans point at Democratic social programs. Democrats point at Republican tax cuts and defense budgets. In reality, both sides have been very comfortable with the "spend now, pay later" model for the last forty years.
Why the "Most" is Hard to Pin Down
There’s this guy, Eugene Steuerle at the Urban-Brookings Tax Policy Center, who has done some of the best work on this. He points out that "spending" isn't just about outlays. It's also about "tax expenditures"—basically, money the government doesn't collect because of loopholes or credits.
If a president gives a $100 billion tax credit for green energy or oil drilling, is that "spending"? Economically, it has the same effect on the deficit as writing a check.
Also, we have to account for the "Peace Dividend." Presidents like Truman or Eisenhower looked like they were "cutting" spending, but they were mostly just stopping the massive flow of cash that was required for World War II or the Korean War. They didn't necessarily change the underlying structure of the government; they just stopped buying tanks for a minute.
What Most People Get Wrong About Modern Spending
There's a huge misconception that the president has total control over the budget. They don't.
Congress actually holds the purse strings. The president submits a budget, but it’s usually "dead on arrival." The real spending happens through a mix of old laws (mandatory spending) and new appropriations bills.
Currently, in 2026, the biggest driver of our "spending" isn't actually new programs. It's interest. Because the national debt is so high and interest rates have remained elevated, the U.S. is now spending over $1 trillion a year just on interest payments. That’s more than we spend on the entire defense budget.
So, who is the biggest spender?
If you mean "who oversaw the most money leaving the Treasury," it’s Joe Biden or Donald Trump.
If you mean "who took over the largest portion of the economy," it’s Franklin D. Roosevelt.
If you mean "who increased the debt the most relative to where they started," it’s also FDR, followed by Reagan.
Actionable Insights: How to Track This Yourself
If you want to stay informed about where your tax dollars are actually going without the political spin, there are a few places you should look.
- Check the "Monthly Treasury Statement": The U.S. Treasury publishes this every month. It’s the raw data. No pundits, just numbers. You can see exactly how much was spent on Social Security vs. Defense vs. Interest.
- Look at "Spending as % of GDP": Whenever you see a scary headline about a "Record $7 Trillion Budget," ask yourself what the GDP is. If the economy grew by 10% and spending grew by 5%, the government is actually getting relatively "smaller," even if the dollar number is higher.
- Distinguish between Deficit and Debt: The deficit is how much we overspend in one year. The debt is the total of all those years added up. A president can "reduce the deficit" while still adding trillions to the debt. It’s a classic accounting trick.
The reality of 2026 is that the "biggest spender" title is a moving target. As long as inflation exists and the population ages, the next president will almost certainly "spend" more than the last one in raw dollars. The real question is whether that spending is an investment that grows the economy, or just a bill we're handing off to the next generation.
To get a clearer picture of current fiscal health, you can visit the Congressional Budget Office (CBO) website to view their "Budget and Economic Outlook" reports, which provide non-partisan 10-year projections. Additionally, using tools like USAspending.gov allows you to see exactly which agencies and contracts are receiving federal funds in your specific state or city.