A new report from the Committee for a Responsible Federal Budget (CRFB), a bipartisan Washington think tank, reveals that the convicted felon’s administration ran up the national debt almost twice as much as President Biden’s.
Trump added $8.4 trillion in borrowing over a ten-year window, while Biden added $4.3 trillion with a few months remaining in the current term. These figures include pandemic aid measures.
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.
Trump’s debt additions include the Tax Cuts and Jobs Act (TCJA), changes to the Affordable Care Act, and different budgetary acts in 2018 and 2019.
Much of Trump’s tax law is set to expire at the end of 2025, and the CBO has estimated that fully extending it would increase deficits by $4.6 trillion over the next decade.
A link to the report can be found here.
