24 June 2024
A new analysis reveals that former President Trump increased the national debt by roughly twice as much as President Biden. This fiscal outlook poses challenges for the upcoming election winner, who will inherit high debt levels amidst rising interest rates and demographic pressures on retirement programs. Both presidents contributed significantly to the debt, but Trump’s tenure saw a larger increase, mainly due to tax cuts and spending deals. Trump’s policies added $8.4 trillion over a decade, while Biden’s added $4.3 trillion. Excluding COVID relief, Trump’s increase is $4.8 trillion compared to Biden’s $2.2 trillion.