America 1 Loc: South Miami

Joe Biden
On Oct. 1, 2021, at the end of the fiscal year 2021, the national debt was $28.4 trillion. Between the end of the fiscal year 2020 and the end of the fiscal year 2021, the national debt grew $1.5 trillion yearly, a 5.6% increase. For the fiscal year 2022, President Joe Biden's budget included a deficit of $1.84 trillion, and by August 2022, the national debt had grown to $30.8 trillion.

When Biden took office, the economy and household finances were still reeling from the pandemic, and Biden continued his predecessor's spending heavily to keep households afloat. In March 2021, Biden signed the American Rescue Plan, which showered taxpayers with pandemic relief cash in the form of stimulus checks and extra unemployment payments and temporarily expanded child tax credits, plus other help. It all came with a cost to future budgets: The bill would add $1.9 trillion to the national debt by 2031, the Congressional Budget Office estimated.10

The bipartisan infrastructure bill, signed by Biden in November 2021, which provided new funding for highways, railways, broadband Internet expansion, and other projects, added to the debt too, with estimates on its 10-year impact ranging from $374 billion to $400 billion, depending on how it's calculated.1112

Some of Biden's actions cut the other way. In August 2022, Biden signed the Inflation Reduction Act. This anti-climate change bill spent money on new green energy programs and tax credits to make drugs cheaper for patients and paid for it by raising taxes on corporations and the ultra-wealthy. The bill should reduce the national debt by $102 billion by 2031, the CBO estimated.13

Biden followed up this bill with an executive action that forgave up to $10,000 of federal student loan debt per borrower and $20,000 for those who received Pell Grants. He also proposed a cheaper income-driven student loan repayment program for future borrowers. However, he also announced that student loan interest and required payments, both of which had been frozen since the pandemic hit, would resume in January 2023.14

In August 2022, the government did not officially estimate how these measures would impact the national debt. One piece of it—forgiving $10,000 of debt per student loan borrower—would cost $329.7 billion over ten years, according to an estimate by the Wharton School of Business.15

What calculator are you using?
Donald Trump

At the end of the fiscal year 2020, the debt was $26.9 trillion. Trump added $6.7 trillion to the national debt between the fiscal year 2017 and the fiscal year 2020, a 33.1% increase, mainly due to the effects of the coronavirus pandemic and the 2020 recession.

Biden in 2 years, $30.8 trillion. Almost 2 trillion a year.
Trump in 4 years, $26.9 trillion. 1.675 trillion a year.

Top 5 Presidents Who Contributed to the Debt by Percentage
https://www.thebalancemoney.com/us-debt-by-president-by-dollar-and-percent-3306296

Big Kahuna

I'm certain Perm is in prison texting his bs with his bright orange prison garb on.

maryla

Good one!!

vernon

All he's done is drain the strategic OIL RESERVE instead of opening up the oil industry. We will pay for this in spades.

microphor Loc: Home is TN

Good one and so true. Everytime I see the news that gas prices have gone down I think "still not as low as they were when Biden took office and nearly twice as much, at least here in CA!

microphor Loc: Home is TN

What favorable ones?

Weswill

Energy independence is when we produce enough oil to meet our own needs without HAVING to import any. Yes the oil business is a global business where most all producing countries import and export oil to try and keep the price somewhat stable. Just like other countries the US does this as well. So even when the US does not produce enough oil for its own use , we still export and import. I agree this does not make much sense but I guess that it is how this business operates.
I can agree about all the shut downs during the pandemic both in demand slow downs and demand increases. But to say that the oil companies only increased the price is a little misleading to me. I don't recall any mass shortages of fuel that would say production was so low we could not get gas.
Bidens war on American energy is a very large contributor of our inflation. Sure there were other factors that contributed to our inflation but fuel effects EVERYTHING we buy, use and need. So when the price of fuel goes up or down prices for goods and services does the same.
The Biden administration does not seem to mind asking American oil companies to drill in places like Venesuala where the oil is less clean but restricts, henders or shut downs these companies from using our own resources in America where the end product is cleaner than most of the rest of the world..
So the Bidens war on American energy is a major or the main reason that oil companies did not increase production. Another reason was that Biden was asking other countries to up there production like Saudi Arabia which refused and not working with our oil companies to get more oil.

microphor Loc: Home is TN

That's right!

Bad Bob Loc: Virginia

microphor Loc: Home is TN

Can't debate what I said so you post your childish memes.

Bad Bob Loc: Virginia

Debate your whining, crying and lying?

RandyBrian Loc: Texas

I'm sure you've noticed, but BBB NEVER debates ANYTHING. Just throws out silly questions and posts laughable memes. He thinks he is showing intellectual contempt, I suppose. That's much funnier than his cartoons and cartoonish remarks.

son of witless

" childish memes " are Bad Bob's security blankets. When you so intimidate him that his mind goes blank, they are all his has got.

Justice101

LOL. Supply and Demand for the decrease in gas prices. No need to give anyone credit-especially Idiot Joe.
Gas prices fall again in NJ, nation as demand remains low

https://www.local10.com/business/2022/12/10/gas-prices-fall-again-in-nj-nation-as-demand-remains-low/

Gas prices have again dropped sharply in New Jersey and around the country as demand remains slow and supplies continue to increase.

AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $3.49, down 14 cents from last week. Drivers were paying $3.42 a gallon on average a year ago at this time.

The national average price for a gallon of regular gasoline was $3.31, down 13 cents last week. Drivers were paying $3.33 a gallon on average a year ago at this time.

Analysts say gas prices will likely continue to drop next week, though not as sharply as in recent weeks given the decision by OPEC to continue cutting production.

Bad Bob Loc: Virginia