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Indeed, debt-to-GDP took a nearly 30-year dive to reach 23 percent in 1974. ... the Biden-Harris administration isn't the only one responsible for this debt spiral. Former President Donald Trump ...
Public debt rose sharply during George W. Bush's presidency and in the wake of the 2007–2008 financial crisis, with resulting significant tax revenue declines and spending increases, such as the Emergency Economic Stabilization Act of 2008 and the American Recovery and Reinvestment Act of 2009. [14]
Over a century later, the public debt topped $1 trillion for the first time in 1982 under Ronald Reagan and more than doubled during his presidency — and it's been climbing steadily since then.
The fiscal policies of the Trump administration added twice the amount to the national deficit as have President Biden’s, a new analysis has found. Trump’s administration borrowed $8.4 ...
During the presidency of George W. Bush, debt held by the public increased from $3.339 trillion in September 2001 to $6.369 trillion by the end of 2008. [ 34 ] [ 35 ] In the aftermath of the global financial crisis of 2007–08 and related significant revenue declines and spending increases, debt held by the public increased to $11.917 trillion ...
American student loan debt is sky-high, with some estimates putting the total number over $2.19 trillion—that’s higher than all U.S. credit card and auto loan debt combined. President Joe ...
$31.38 trillion: The federal debt stood at $27.6 trillion when Biden took office. Biden has visited three dozen states and spent all or part of nearly 200 days in his home state of Delaware.
The Biden administration began loosening those rules beginning in 2021, and has so far cleared $73.7 billion of debt though the program. How Trump will handle PSLF going forward is unclear.