The federal debt has increased more than $5 trillion during President Joe Biden’s administration, according to data released by the U.S. Treasury, the Daily Caller reported Tuesday.
As of Friday, the total federal debt was $32.8 trillion after being $27.7 trillion on the day Biden was inaugurated.
This equals a national debt of more than $250,000 per household, with the increase during Biden's presidency being more than $38,000 per household, according to the Daily Caller.
The rise in total national debt during Biden's presidency does not compare favorably with that of recent administrations during the same time periods.
The best performance in the past two decades was that of the George W. Bush administration, when total federal debt went up by a comparatively smaller $1 trillion during the same time frame after his inauguration.
Next best was that of the Trump administration, which increased almost $2.5 trillion during the comparable period after he entered the White House.
During the same time frame during the Obama administration, the total national debt went up by just over $4 trillion.
Included in Biden’s fiscal 2024 budget proposal are estimates that the total federal debt will go up in each of the next 10 fiscal years, reaching almost $50.7 trillion at the end of fiscal year 2033.
Brian Freeman ✉
Brian Freeman, a Newsmax writer based in Israel, has more than three decades writing and editing about culture and politics for newspapers, online and television.
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