The fiscal policies of the Trump administration added twice the amount to the national deficit as have President Biden’s, a new analysis has found.
Trump’s administration borrowed $8.4 trillion during the former president’s time in office, while Biden has borrowed $4.3 trillion, according to an analysis by the Committee for a Responsible Federal Budget (CRFB), a Washington think tank.
Ignoring the pandemic relief measures enacted by both presidents, the proportion of debt addition still holds around 2-to-1, with former President Trump adding $4.8 trillion in non-pandemic-aid fiscal debt and Biden adding $2.2 trillion.
Those additions were mostly due to the Tax Cuts and Jobs Act (TCJA), changes to the Affordable Care Act, and different budgetary acts in 2018 and 2019.
Most of Biden’s non-pandemic-related additions were due to the Bipartisan Infrastructure Law, student debt relief, appropriations bills and other executive actions.
The two parties add to the debt in different ways, with Republicans doing it mostly through bipartisan legislation and Democrats doing it more through executive actions, the CRFB says in a preview of future work.
Seventy-seven percent of the Trump administration’s additions to the national debt were attributable to bipartisan legislation, while […]
As the article states: “The two parties add to the debt in different ways, with Republicans doing it mostly through bipartisan legislation and Democrats doing it more through executive actions, the CRFB says in a preview of future work.” Well there you have it. At least the Republicans increase your debt via bipartisan legislation, not that it helps you in any way. Ask your self why the Democrats continue to collude with the Republicans in this endeavor. Follow the money and you will have your answer. Do you think any of them – – Republican or Democrat will propose cutting funding for the operations of the world wide empire? Don’t bet on it. If you want a better life for you and your children start thinking outside the box.
Not only did Trump add twice as much as Biden to the national debt, he added the MOST debt of any previous president in one term!!! He knows nothing about economics and is too stupid to realize that his tariffs didn’t harm the countries whose goods he placed them on. They were paid by AMERICANS when they bought those products! How stupid can he be? No question, we’ve had some bad presidents, but he leads the list of the dumbest of the all!
I totally agree with you, Terri, about Trump and his spending habits; that is why Trump should be put in jail, not running for President