It’s a close competition between Donald Trump and Joe Biden on which president inflated the nation’s debt the most. Of course, Trump has had two terms to bankrupt the coming generations, while Biden has had only one. So let’s look at Trump 45 vs. Joe Biden 46.
The government reported yesterday that the nation’s red ink, as of March, now surpasses $40 trillion, up one trillion in a month. Now, whether that semi-annual figure is a record wasn’t discussed in the news release.
However, Bloomberg has looked at and compared the totals under Trump and Biden. In 2017, when Trump entered office, the debt stood at $19.95 trillion. When he left, it had risen to $27.75 trillion, an increase of $7.8 trillion.
Biden came along in 2021 and took Trump’s $27.75 trillion in red ink and grew it to $36 trillion when he left office for Trump 47, an increase of $8.4 trillion.
So, the two are fairly even. Bloomberg also gives the duo a Get Out of Jail Free card by estimating that most of the increases were due to COVID-19 and the pandemic.
So, we’ll have to wait to see what happens at the end of Trump 47, but it doesn’t look good. In less than two years, the deficit has grown by at least $4 trillion.
