The truth about spending, Biden vs. Trump

To the Editor,

   We’ve heard a lot about “runaway spending” under the Biden Administration. Here are some facts and the sources I site:

   • National debt during Joe Biden’s presidency has increased by $2.5 trillion since he took office, an increase of 8.79 percent as of September 2022.

   • During Donald Trump’s whole presidency, the U.S. national debt increased by $8.18 trillion, a percentage increase of 40.43 percent. This is less than Barack Obama (69.98 percent) and George W. Bush (105.8 percent). However, Donald Trump was in office for only four years compared to eight years for both Barack Obama and George W. Bush.

   • During the Trump Administration, the budgeted receipts were $13,795.3 billion. The outlays were $22,355.9 billion, for deficit spending of $8,560.6 billion. During that same period, GDP (gross domestic product) amounted to $84,622.5 billion with the percentage of GDP receipts being 65.2 percent, percentage of GDP outlays being 105.3 percent, of a deficit contributing to the national debt of 40.1 percent.

   • During the Biden Administration, the budgeted receipts are estimated to be $18,680.9 billion. The outlays are estimate to be $24,718.6 billion, for deficit spending of $6,037.7 billion. During that same period, GDP amounted to $100,115.5 billion with the percentage of GDP receipts being 74.6 percent, percentage of GDP outlays being 98.8 percent, for a deficit contributing to the national debt of 24.2 percent.

   • Please remember that the budget deficit is the amount that was spent vs. the amount received. The percentage of GDP is the amount that was contributed to the national debt.

   (Please refer to “Federal Budget Receipts and Outlays: Gerhard Peters. ‘Federal Budget Receipts and Outlays.’ The American Presidency Project. Ed. John T. Woolley and Gerhard Peters. Santa Barbara, CA: University of California.”)

   So what do all these figures mean? Biden’s budget generated more receipts, spent a little more, but created less deficit spending than Trump.

   And in GDP, Biden generated more receipts than Trump, spent less than Trump, resulting in less of a contribution to the national debt.

   I have 12 sources for this data, and those sources I am more than willing to share. Just contact me.

   These are the facts. I have spent considerable time researching this data. Some people will believe me; some will not. These are not “alternative facts” as some people like to use that term. They are not subject to “interpretation.”

   Draw your own conclusions, but to raise the debt ceiling and pass budgets under President Trump, and then site “runaway spending” as a reason to not raise the debt ceiling and pass budgets under President Biden is pure politics. And for Trump to state on national TV (CNN townhall, May 10, 2023) that he doesn’t care if the U.S. defaults on the country’s loans because he’s “no longer President” shows little regard for our economy or our people. If the United States defaults on our debt, our economy and each of us as taxpayers will suffer.

Danny C. Saunders

Independent voter

Monticello, Iowa