Biden and Trump Clash Over National Debt Impact
New analyses reveal conflicting views on fiscal responsibility and future economic risks under both administrations.
- Recent reports show Biden's first three years added $4.7 trillion to the national debt, while Trump's first three years added $2.5 trillion.
- The Congressional Budget Office projects the fiscal 2024 deficit at $1.9 trillion, nearly matching Russia's GDP.
- Critics argue Biden's policies, including student loan forgiveness and healthcare expansions, have driven deficits higher.
- Trump's administration also faced criticism for significant borrowing, particularly during the COVID-19 pandemic.
- Experts warn that rising interest expenses and dependency on foreign funding could threaten U.S. financial stability.