Trump Added Nearly Twice as Much Net Debt as Biden, Report Finds
Summary from the AllSides News Team
In his four-year term, former President Donald Trump ran up the national debt nearly twice as much as President Biden has during his term to date, a new analysis shows.
The Details: The analysis is from the self-described “nonpartisan non-profit” Committee for a Responsible Federal Budget. It found that President Trump approved $8.8 trillion of gross new ten-year borrowing and $443 billion of deficit reduction, while President Biden approved $6.2 trillion of borrowing and $1.9 trillion of reduction. For Trump, $3.6 trillion was COVID-19 relief spending, while for Biden it was $2.1 trillion. This leaves the net of new ten-year borrowing for Trump at $8.4 trillion, and for Biden at $4.3 trillion.
For Context: Excluding COVID spending, 77 percent of Trump’s spending had bipartisan approval from Congress, while for Biden it was just 29 percent. Trump’s biggest drivers of higher public debt were tax cuts and bipartisan spending packages. For Biden, they were student loan relief, healthcare for veterans, and the executive actions that reformed things like food stamps and Medicaid.
How The Media Covered It: The story was not covered much by sources on the right, but The New York Sun (Right bias) framed its headline about the combined amount Trump and Biden ran up the debt, while outlets from the left and center mostly framed headlines around Trump’s borrowing heavily outpacing Biden’s. Most outlets only offered gross borrowing figures and didn’t mention the debt reduction measures.
Featured Coverage of this Story
From the Left
Trump ran up national debt twice as much as Biden: new analysisFormer President Trump ran up the national debt by about twice as much as President Biden, according to a new analysis of their fiscal track records.
Why it matters: The winner of November's election faces a gloomy fiscal outlook, with rapidly rising debt levels at a time when interest rates are already high and demographic pressure on retirement programs is rising.
Both candidates bear a share of the responsibility, as each added trillions to that tally while in office.
But Trump's contribution was significantly higher, according to the fiscal watchdogs at the Committee for a Responsible Federal Budget,...
From the Center
Trump added twice as much to the national debt as Biden: AnalysisThe 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...
From the Right
Trump, Biden Have Added a Combined $12.7 Trillion to the National DebtPresident Trump and President Biden added a combined $12.7 trillion to the national debt between January 2017 and June 2024, a new report has found. While some of that spending was driven by Covid pandemic emergency spending, the majority was added due to increased spending and reduced tax revenues.
According to the Committee for a Responsible Federal Budget, the national debt will reach a “record share” of America’s economy during the next presidential term, which begins in January 2025. The committee says the increase is “due in part to policies approved...
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