https://www.crfb.org/papers/trump-and-biden-national-debt
![](https://www.crfb.org/sites/default/files/styles/media_image_default/public/images/trump-biden%20fig%201.jpg.webp?)
In companion analyses, we will show:
![](https://i.imgur.com/TvUJaiT.png)
![](https://www.crfb.org/sites/default/files/styles/media_image_default/public/images/trump-biden%20fig%202.jpg.webp?)
![](https://www.crfb.org/sites/default/files/styles/media_image_default/public/images/trump-biden%20fig%203.jpg.webp?)
Two conclusions: No fiscally responsible deficit hawks are to be found in the Executive and they are few and far between in Congress or the parties in general. This is unsustainable.
![](https://www.crfb.org/sites/default/files/styles/media_image_default/public/images/trump-biden%20fig%201.jpg.webp?)
In companion analyses, we will show:
- Roughly 77 percent of President Trump's approved ten-year debt came from bipartisan legislation, and 29 percent of the net ten-year debt President Biden has approved thus far came from bipartisan legislation. The rest was from partisan actions.
- President Trump approved $2.2 trillion of debt in his first two years in office and $6.2 trillion ($2.6 trillion non-COVID) in his second two years. President Biden approved $4.9 trillion ($2.9 trillion non-COVID) in his first two years in office and has so far approved over $600 billion of net ten-year deficit reduction since.
- President Trump approved $5.9 trillion of net spending increases including interest ($2.8 trillion non-COVID) and $2.5 trillion of net tax cuts ($2.0 trillion non-COVID). President Biden has approved $4.3 trillion of net spending increases including interest ($2.3 trillion non-COVID) and roughly $0 of net tax changes ($60 billion revenue increase non-COVID).
- Debt held by the public rose by $7.2 trillion during President Trump's term including $5.9 trillion in the first three years and five months. Debt held by the public has grown by $6.0 trillion during President Biden's term so far.
![](https://i.imgur.com/TvUJaiT.png)
![](https://www.crfb.org/sites/default/files/styles/media_image_default/public/images/trump-biden%20fig%202.jpg.webp?)
![](https://www.crfb.org/sites/default/files/styles/media_image_default/public/images/trump-biden%20fig%203.jpg.webp?)
Two conclusions: No fiscally responsible deficit hawks are to be found in the Executive and they are few and far between in Congress or the parties in general. This is unsustainable.
![](https://i.imgur.com/fK7bQPY.png)