Trump, Biden Have Added a Combined $12.7 Trillion to the National Debt

President Trump and President Biden added a combined $12.7 trillion to the national debt between January 2017 and June 2024, a new report has found. While some of that spending was driven by Covid pandemic emergency spending, the majority was added due to increased spending and reduced tax revenues. 

According to the Committee for a Responsible Federal Budget, the national debt will reach a “record share” of America’s economy during the next presidential term, which begins in January 2025. The committee says the increase is “due in part to policies approved by Presidents Trump and Biden during their time in office, including executive actions and legislation passed by Congress.”