The U.S. national debt has surged in recent years under the leadership of President Biden and former President Trump, who are set to face off on the debate stage on Thursday for the first time in this presidential election cycle.
During the Biden administration, the largest partisan measure that added to the debt per the CRFB's analysis was the American Rescue Plan Act, which added $2.1 trillion in debt over 10 years. Biden's executive actions providing a student loan debt handout added $620 billion, while other executive actions added $548 billion. Bipartisan measures implemented under Biden that increased the debt included spending bills for fiscal years 2022 and 2023, which added $1.
What this analysis demonstrates is that both President Trump and President Biden have added substantially to America's borrowing over a ten-year window, through legislation and executive actions they've approved in their first presidential terms," Maya MacGuineas, president of the Committee for a Responsible Federal Budget, told FOX Business in a statement.