There are many noted differences between former President Barack Obama and President Donald Trump, none greater than how much each has contributed to the national debt. Since Trump took office in January, the U.S. national debt has decreased by $103 Billion.
During the same time period of Obama’s reign, he managed to increase the U.S. national debt by $899 Billion.
The difference between Trump and Obama is $1 Trillion.
One of Trump’s promises to the American people was to reduce the national debt, and as always he’s fulfilling his promise. Even before President Trump was sworn in, Washington was abuzz with leaks about his coming budget. According to some reports, he would propose as much as $10.5 trillion in cuts over the next ten years. Among the cuts would be programs that have long been examples of wasteful, unnecessary, or counterproductive spending, including the Corporation for Public Broadcasting, the National Endowment for the Arts, and the Legal Services Corporation.
Obama on the other hand, was often accused of “cooking the books” as it was noted that the amount of the debt would go unchanged for months, which is realistically impossible. As the amount would come close to reaching the U.S. national debt limit, the amount wouldn’t change, letting the Obama administration continue running and avoiding a government shutdown.
Former President Obama grew the national debt more than any other president since 1960. Obama added a total of $7.917 Trillion, a 68 percent increase in just seven years. Obama’s wasteful spending included the economic stimulus package, cutting taxes, extending unemployment benefits and providing funds for public works projects.
At the time of George W. Bush’s last budget, the U.S. national debt was reported to be $11.657 Trillion.