Comparison of Debt Approval by Presidents Trump and Biden

SOURCE www.marketwatch.com
Analysis by the Committee for a Responsible Federal Budget shows that President Trump approved more new debt during his term compared to President Biden. Both candidates have different plans to tackle the deficit, with Trump focusing on tax cuts and immigration policies, while Biden aims to raise taxes on corporations and high-income earners. Experts are concerned about the impact of the growing federal deficits on the economy and the ability to absorb new federal borrowing.

Key Points

  • Trump approved $8.4 trillion in new 10-year borrowing compared to Biden's $4.3 trillion
  • Biden's approach includes raising taxes on corporations and high-income earners
  • Experts are concerned about the impact of growing federal deficits on the economy

Pros

  • Insightful analysis on the fiscal performance of Presidents Trump and Biden
  • Highlights the different approaches of the two candidates to tackle the deficit

Cons

  • Statements from campaign representatives may be biased