Biden: Trump had the largest national debt
It’s part of the latest leftist argument: that if Trump wins the election, he will run deficits twice as large as Biden would.
The CBO’s projection for 2021, the last fiscal year of the Trump administration, forecast the federal debt to reach about $35.3 trillion by 2031, that is, over the next decade. Former Treasury Secretary Steve Mnuchin, unsure how much tax revenue would be collected, borrowed well over $1 trillion — but kept it in reserve, without ever spending it.Instead of simply allowing that one-time emergency COVID spending to expire, Biden and the Democratic Congress continued spending at that same COVID-era level, thus institutionalizing multitrillion-dollar deficits.
Biden wanted to spend $2 trillion more in the last year and a half, but conservatives in the House blocked the added bloat.
2024 Presidential Election Congressional Budget Office Donald Trump Federal Budget Joe Biden U.S. Debt
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