And so did Trump’s first term. Except $8 trillion in 2012-2016 was a lot more than $8 trillion in 2016-2020. Right now we can safely expect over $10 trillion of increase by Trump’s second term’s end. If it ends, that is.
Over the course of President Trump’s four years in office, the gross national debt grew from $19.95 trillion to $27.75 trillion – a $7.8 trillion increase (debt held by the public – the more economically-meaningful measure of debt – grew by $7.2 trillion over this period). However, much of this borrowing was due to policies put in place before President Trump took office or due to unexpected changes in circumstance. Debt was already projected to grow by about $3 trillion for the four years of his term when President Trump took office, and some of the additional debt accrued was also the direct result of the COVID-19 pandemic and recession. It’s also important to note that the government was holding an unusually large $1.6 trillion in cash when President Trump left office, which inflated the growth in debt relative to the deficit run during his time in office.
Biden added 8 trillion…
And so did Trump’s first term. Except $8 trillion in 2012-2016 was a lot more than $8 trillion in 2016-2020. Right now we can safely expect over $10 trillion of increase by Trump’s second term’s end. If it ends, that is.
Over the course of President Trump’s four years in office, the gross national debt grew from $19.95 trillion to $27.75 trillion – a $7.8 trillion increase (debt held by the public – the more economically-meaningful measure of debt – grew by $7.2 trillion over this period). However, much of this borrowing was due to policies put in place before President Trump took office or due to unexpected changes in circumstance. Debt was already projected to grow by about $3 trillion for the four years of his term when President Trump took office, and some of the additional debt accrued was also the direct result of the COVID-19 pandemic and recession. It’s also important to note that the government was holding an unusually large $1.6 trillion in cash when President Trump left office, which inflated the growth in debt relative to the deficit run during his time in office.
It’s almost like biden had to spend a fuck ton to try and fix the shit trump 1.0 broke