1、CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i Federal Debt Levels on Presidential Inauguration Days September 15, 2021 This Insight presents data on federal debt on or near Inauguration Days since 1961 taken from U.S. Treasury statements. Table 1 presents current-doll
2、ar debt levels. Table 2 presents inflation-adjusted debt levels. Finally, Table 3 presents debt as a proportion of the U.S. economy. Levels for August 2, 2021, the first business day after the most recent reset of the debt limit, and September 14, 2021, the date of the most recent Daily Treasury Sta
3、tement, are also included. Congress and the President share responsibility for fiscal policy. Changes in Administration take time to translate into fiscal outcomes. When a President takes office, budgetary decisions for that fiscal year are normally already decided, although executive orders and oth
4、er actions may alter fiscal outcomes. While Presidents normally submit budgets in February, Presidents in their first year typically take more time to develop budget proposals. New programs also take time to implement. Both Congress and Presidents are also constrained by economic conditions and long
