BiPartisan Vance - America Inherited Trump "Debt Bomb"

c186282 wrote:
 


Vance wouldn't lie.  He's fair and balanced.

Is he still sucking cock?


Vance is a shit for brains who lies about his education and his military
service.   He also admitted to raping both his daughters. 


How $40 Trillion National Debt Grew Under Trump Compared to Biden and
Obama 
 

Aug 20, 2026 at 12:48 PM EDT
 

The United States' gross national debt has crossed $40 trillion for the
first time, reaching approximately $40.05 trillion, according to Treasury
Department data from this week. 

That figure is more than double the $19.95 trillion recorded when Donald
Trump first took office in January 2017. 

Federal borrowing has skyrocketed across Republican and Democratic
administrations, driven by a mix of wars, recessions, tax cuts and
emergency spending. Read More on Politics
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Newsweek compared how the debt grew during the Trump, Joe Biden, Barack
Obama and George W. Bush administrations. Why It Matters

The $40 trillion figure represents total public debt outstanding, commonly
called gross federal debt. It includes about $32.27 trillion in debt held
by investors and approximately $7.78 trillion in intragovernmental
holdings, such as Treasury securities held by federal trust funds. 

The milestone is important because the government must pay interest on its
outstanding obligations while continuing to finance Social Security,
Medicare, Medicaid, defense and other federal programs. 

Interest costs have totaled nearly $1.2 trillion during fiscal year 2026,
according to Treasury figures, making interest one of the government's
largest spending categories. 

The Congressional Budget Office projects that debt held by the public will
rise from about 101 percent of gross domestic product in 2026 to 120
percent by 2036. The 1600
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The graph shows the increase in national debt by presidential
administration. Source: Newsweek. The graph shows the increase in national
debt by presidential administration. Source: Newsweek. 

The data reveals that national debt grew by approximately $11.6 trillion
during Trump's two nonconsecutive terms combined. That includes an
increase of about $7.8 trillion during his first term and roughly $3.84
trillion since he returned to office in January 2025. 

In comparison, the debt increased by approximately $8.4 trillion during
Democrat Joe Biden's four years in office, about $9.3 trillion over
Democrat Barack Obama's eight years and roughly $4.9 trillion during
Republican George W. Bush's eight-year presidency. 

However, experts say these figures only measure what happened to the debt
while each president was in office and do not indicate that each president
personally caused every dollar of the increase. Recessions, wars,
emergencies and interest costs can also substantially alter federal
borrowing. 

"It is not about one administration, but a combination of multiple
administrations. Crisis spending, whether it was the massive bailouts
during the GFC or COVID-era spending, increased deficits significantly, "
Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings
podcast, told Newsweek. 

"So, it is not a single administration we can blame, but multiple
administrations that were met with crises and failed to implement
meaningful austerity measures afterward to minimize the long-term impact.
" The graph reveals the percentage increase in the national debt by
presidential administration. Source: Newsweek. The graph reveals the
percentage increase in the national debt by presidential administration.
Source: Newsweek. How Much the Debt Grew Under Each President
Administration	Debt at start	Debt at end	Increase	Percentage 
increase
George W. Bush, 2001-2009	$5.73 trillion	$10.63 trillion	$4.90
trillion	85.5% Barack Obama, 2009-2017	$10.63 trillion	$19.95
trillion	$9.32 trillion	87.7% Trump, first term	$19.95 trillion	$27.75
trillion	$7.80 trillion	39.1% Joe Biden, 2021-2025	$27.75 trillion	$36.21
trillion	$8.45 trillion	30.5% Trump, second term through August 18	$36.21
trillion	$40.05 trillion	$3.84 trillion	10.6% 

The reasons for the debt increase under each administration varied
considerably. 

Biden presided over the largest four-year dollar increase at approximately
$8.45 trillion. But the percentage increase during his presidency, roughly
30.5 percent, was smaller than the percentage increases under Bush, Obama
and Trump's first term. 

"When you borrow more than you bring in, your debt inevitably increases,
especially as gross domestic product fails to keep pace with the cost of
that borrowing, " Thompson said. "Now that interest payments have
surpassed defense spending, more of our income is being used simply to
service the debt, including payments to foreign holders of U. S. debt. " 

Obama recorded the largest increase across a full presidency, in both
dollars and percentage terms, among the four presidents examined:
approximately $9.32 trillion, or 87.7 percent, over eight years. When
divided by term, around $5.81 trillion was added during his first four
years and $3.51 trillion during his second. 

Meanwhile, the debt rose about 85.5 percent under Bush, from $5.73
trillion to $10.63 trillion. Although the dollar increase was smaller than
those recorded under the presidents who followed him, the debt nearly
doubled relative to the amount outstanding when he took office. 

"Both sides of the political aisle will use charts and point fingers as to
which administrations have added more heavily to the national debt over
the last four decades, but the reality is that future discussions are
going to have to be more about how to both manage the stunning current
balance and find ways of controlling future budgets that are more
efficient in adding less to it, " Alex Beene, a financial literacy
instructor at the University of Tennessee at Martin, told Newsweek. What
Drove the Increase Under Bush? 

The federal debt's growth was already visible during the Bush presidency,
which included the wars in Afghanistan and Iraq, tax reductions and the
beginning of the 2007-2009 financial crisis. 

The Great Recession also created a difficult problem at the transition
between Bush and Obama. The federal fiscal year did not align with
Inauguration Day, and emergency measures approved as the financial system
deteriorated continued to affect federal finances even after the change in
administration. 

"Just two decades ago, the number each American would have to pay to
eliminate the national debt was in the thousands, " Beene said. "Today,
those same amounts would barely cover the interest debt is accruing. If
this continues, the reality looks bleak. " What Drove the Increase Under
Obama? 

Obama took office during the most severe financial downturn since the
Great Depression. His administration and Congress enacted measures to
support the economy and address unemployment as federal revenue declined. 

The debt grew from approximately $10.63 trillion to $16.43 trillion during
his first term, an increase of approximately $5.81 trillion, or 54.6
percent. During his second term, it rose by another $3.51 trillion, or
21.4 percent. 

"Obama inherited a financial crisis and Biden inherited the pandemic
aftermath, but neither solved the underlying problem either, " Michael
Ryan, a finance expert and the founder of MichaelRyanMoney. com, told
Newsweek. 

"At $40 trillion, the danger is increasingly the interest bill itself.
More interest means less room for the next recession, war, tax cut, Social
Security fix or national priority. " President Donald Trump speaks in
Garden City, New York, on August 14, 2026. President Donald Trump speaks
in Garden City, New York, on August 14, 2026. | Kent Nishimura/AFP via
Getty Images What Drove the Increase Under Trump's First Term?

The debt rose from approximately $19.95 trillion to $27.75 trillion during
Trump's first term, an increase of approximately $7.8 trillion, or 39.1
percent. 

The 2017 Tax Cuts and Jobs Act, which reduced the corporate tax rate from
35 percent to 21 percent, was a major factor, as this increased federal
spending in addition to the extraordinary borrowing authorized after the
COVID-19 pandemic struck in 2020. 

Approximately one-third of the debt accumulated since 2017 was linked to
pandemic-era borrowing under both Trump and Biden 

"The debt rose under every recent president. No one gets a clean pass, "
Ryan said. 

"But if we're talking fiscal responsibility rather than simply counting
dollars, Bush and Trump deserve particularly hard scrutiny. Bush inherited
a budget surplus and combined large tax cuts with wars and a new Medicare
drug benefit that weren't fully paid for. Trump inherited a strong economy
in 2017 and deficits were already rising before COVID. " Related Story
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What Drove the Increase Under Biden?

The debt increased from approximately $27.75 trillion to $36.21 trillion
while Biden was president, the largest four-year dollar increase in the
comparison. 

His administration continued pandemic recovery spending and enacted
legislation involving infrastructure and clean-energy subsidies. At the
same time, interest expenses and the cost of mandatory federal benefit
programs continued rising. 

With the escalating debt, Beene said: "The dollar will continue to decline
in its buying power, assets will continue to grow, and the already sizable
wealth gap will more than likely only expand. " How the Debt Has Grown
During Trump's Second Term 

Gross debt stood at approximately $36.21 trillion when Trump returned to
office in January of last year. It reached $40.05 trillion this week, up
about $3.84 trillion, or 10.6 percent, in roughly 19 months. 

During his second term, Trump signed legislation that permanently extended
major provisions of the 2017 tax law. The measure also raised the debt
ceiling by nearly $5 trillion. The Congressional Budget Office estimated
that the legislation would increase federal debt by approximately $4.2
trillion through fiscal year 2034. 

"President Trump pledged to clean up Joe Biden's fiscal mismanagement.
That's why the Trump administration has been focused on slashing waste,
fraud, and abuse in federal spending while accelerating economic growth to
get America's debt-to-GDP ratio trending in the right direction again, "
White House spokesman Kush Desai told Newsweek. 

"As the President's supply-side economic agenda continues to cool
inflation and pave the road for interest rate cuts by the Fed, the markets
and everyday Americans can count on more relief ahead. " 

Treasury Secretary Scott Bessent downplayed concerns over the $40 trillion
debt mark during an interview on CNBC this week. 

"There's nothing magic about the $40 trillion number. We can grow our way
out of that, " Bessent said Thursday. 

On X Thursday afternoon, Bessent wrote: "We were left with a mess. The
Biden administration had the highest deficit-to-GDP in history when we
weren't at war or weren't in a recession. For 2025, we brought it down by
more than a percent. "