Since January 1937, Americans have celebrated Presidential Inauguration Day with a ceremony at the United States Capitol on the 20th day of January. The date changed from March 4 - the same day the Constitution took effect - when President Franklin D. Roosevelt was sworn into office in 1933. Explore snapshots below of each president's economic legacy from the "New Deal" to "No New Taxes" to the 2009 bailout.
The Timeline: Use the menu on the left to scroll through Inauguration Day history. Bold lines on the timeline below identify each inauguration year.
Since January 1937, Americans have celebrated Presidential Inauguration Day with a ceremony at the United States Capitol on the 20th day of January. The date changed from March 4 - the same day the Constitution took effect - when President Franklin D. Roosevelt was sworn into office in 1933. Explore snapshots below of each president's economic legacy from the "New Deal" to "No New Taxes" to the 2009 bailout.
The Timeline: Use the menu on the left to scroll through Inauguration Day history. Bold lines on the timeline below identify each inauguration year.
Barack Obama: The Road to Recovery
President Barack Obama took office in 2009 as the nation was going through what has been called the worst economic crisis since the Great Depression affecting every American from Wall Street to Main Street.
President Barack Obama took office in 2009 as the nation was going through what has been called the worst economic crisis since the Great Depression affecting every American from Wall Street to Main Street.
The year of Obama's inauguration, unemployment reached above 10 percent nationwide, and in February that year the President signed the American Recovery and Reinvestment Act -- better known as the stimulus package -- which cost an estimated $787 billion at the time of passage, later revised to $831 billion.
George W. Bush: From Surplus to Bailout
When President George W. Bush took office, a budget surplus of more than $100 billion awaited him. As part of a campaign pledge to lower taxes he significatnly lowered the marginal tax rates for nearly all U.S. taxpayers.
When President George W. Bush took office, a budget surplus of more than $100 billion awaited him. As part of a campaign pledge to lower taxes he significatnly lowered the marginal tax rates for nearly all U.S. taxpayers.
Bill Clinton: An Era of Prosperity
President Clinton took office as the U.S. economy began to emerge from a deep trough. His economic legacy includes free trade bills like NAFTA, deregulation, and a $100 billion budget surplus when he left office.
President Clinton took office as the U.S. economy began to emerge from a deep trough. His economic legacy includes free trade bills like NAFTA, deregulation, and a $100 billion budget surplus when he left office.
George H.W. Bush: Read My Lips, No New Taxes
President George H.W. Bush was elected partially for a his campaign promise But once he became president, Bush did indeed raise taxes to reduce the budget deficit.
President George H.W. Bush was elected partially for a his campaign promise But once he became president, Bush did indeed raise taxes to reduce the budget deficit.
Ronald Reagan: Reagonomics
President Ronald Reagan promised an economic philosophy of supply-side economics that included lowering taxes and reducing regulation on businesses and individuals as a way to create jobs and grow the economy.
President Ronald Reagan promised an economic philosophy of supply-side economics that included lowering taxes and reducing regulation on businesses and individuals as a way to create jobs and grow the economy.
Critics argue Reagan's economic policies significantly expanded the national budget deficit. Supporters argue that GDP and worker productivity both grew significantly under Reagan's presidency.
Jimmy Carter: The Energy Crisis
In his campaign for president, Jimmy Carter promised to reorganize the government in a post-Watergate scandal world. But his economic legacy may be the oil crisis and energy shortage, and interest rates topping 20 percent.
In his campaign for president, Jimmy Carter promised to reorganize the government in a post-Watergate scandal world. But his economic legacy may be the oil crisis and energy shortage, and interest rates topping 20 percent.
Gerald R. Ford: Whip Inflation Now
When President Gerald Ford took office, rising inflation was seen by many economists as the greatest threat to the economy -- and the country. In 1974, Ford unveiled his slogan: "Whip Inflation Now."
When President Gerald Ford took office, rising inflation was seen by many economists as the greatest threat to the economy -- and the country. In 1974, Ford unveiled his slogan: "Whip Inflation Now."
Richard Nixon: A war on inflation
The U.S. inflation rate stood at 4.7 percent when President Richard Nixon was sworn in to office. To reduce that, Nixon introduced a series of price controls that produced food shortages and angered the American public.
The U.S. inflation rate stood at 4.7 percent when President Richard Nixon was sworn in to office. To reduce that, Nixon introduced a series of price controls that produced food shortages and angered the American public.
Lyndon B. Johnson: The Great Society
Lyndon Johnson became the 36th President after the death of President Kennedy. Reelected in 1964, he is most famous for legislation to expand Medicare, Medicaid, public broadcasting and put in place his "War on Poverty."
Lyndon Johnson became the 36th President after the death of President Kennedy. Reelected in 1964, he is most famous for legislation to expand Medicare, Medicaid, public broadcasting and put in place his "War on Poverty."
John F. Kennedy: 20th century President
President John F. Kennedy presided over the first $100 billion U.S. budget (compared to today's $3 trillion budget) before his death in 1963, his economic policy goal was to loosen interest rates and grow the GDP.
President John F. Kennedy presided over the first $100 billion U.S. budget (compared to today's $3 trillion budget) before his death in 1963, his economic policy goal was to loosen interest rates and grow the GDP.
Dwight D. Eisenhower: Interstate commerce
Before taking office, Dwight Eisenhower pledged to balance the federal budget and end price and wage controls. But authorizing the construction of the Interstate Highway system was perhaps his most tangible economic win.
Before taking office, Dwight Eisenhower pledged to balance the federal budget and end price and wage controls. But authorizing the construction of the Interstate Highway system was perhaps his most tangible economic win.
Harry S. Truman: Post-war economics
Harry Truman succeeded to the presidency in1945 and was elected to a second term in 1948. The end of World War II was both his foreign policy and economic legacy.
Harry Truman succeeded to the presidency in1945 and was elected to a second term in 1948. The end of World War II was both his foreign policy and economic legacy.
Labor union strife was particularly heated during Truman's presidency, although union power was cut back when Congress passed the Taft-Hartley Act, over Truman's veto.
Franklin D. Roosevelt: The New Deal
Franklin Delano Roosevelt is the first -- and almost assuredly only -- president sworn in on four Inauguration Days. His "New Deal" defined American liberalism and the U.S. economy for most of the 20th century.
Franklin Delano Roosevelt is the first -- and almost assuredly only -- president sworn in on four Inauguration Days. His "New Deal" defined American liberalism and the U.S. economy for most of the 20th century.