Democrats in Congress are saying Trump is the culprit.
Biden made the same charge last week:
Biden in a speech at the White House:
“One quarter” of today’s $31.4 trillion federal debt “was accumulated in the four years of my predecessor,” Donald Trump.”
Trump was a big spender for sure. The debt rose from $19.9 trillion to roughly $27 trillion when he left office. So Trump added more than $7 trillion to the debt.
But wait: some $3 trillion of that spending was Covid relief money that virtually every Democrat in Congress voted FOR. It’s hard to blame the pandemic on Trump.
Now compare that record with Biden. In just two years Joe has amassed $4.2 trillion more debt bringing the national debt to $31.3 trillion. And most of that spending came without a single Republican vote. More than half of the spending was appropriated AFTER Covid was over. We should be running a surplus now, not a trillion and a half-dollar deficit.
A bigger lie is that Biden “LOWERED the deficit by $1.4 trillion.” They get this phony number by subtracting the gargantuan $2.8 trillion of borrowing by Biden in 2022 from the $1.4 trillion he borrowed in 2022.
So who is responsible for the explosion of the debt? Bush, Obama, Trump, and Biden – and Republicans and Democrats in Congress.
The real question is: who, If anyone, will stop it?