10. John F. Kennedy
Added $23 billion after Eisenhower’s last budget.
Kennedy directed all Federal agencies to accelerate procurement and construction and made it clear he was not going to cut back on Federal spending during the recession.
He even created a “pilot” Food Stamp program for the needy but continued to push for lowering taxes, but Kennedy is credited saying “a rising tide lifts all boats,” which is associated with the idea that improvements to the economy will benefit everyone in the economy. He was more interested in federal programs than cutting the deficit and believed economic stimulus would take America from recession to recovery.
By the time of his passing, the employment boom was starting, stocks were soaring, and the United States enjoyed one of the biggest economic expansions in history.
- $6 billion 1964
- $7 billion 1963
- $10 billion 1962