The Winston Group’s David Winston writes in today’s Roll Call about how much Presidents Trump and Biden spent during their terms, and who is to blame for the near-historic inflation levels.
The scale of spending was clearly a central concern about inflation. Ask almost anyone in Washington how much money the government spent during Biden’s four years and you’ll probably get a blank stare. The answer is a staggering $26 trillion. He normalized the 2020 COVID budget and never looked back.
In contrast, during the previous four years under Trump, the government spent a total of $19.1 trillion, or $6.9 trillion less than Biden.
That means Biden spent, on average, $1.7 trillion a year more than Trump did, and that includes Trump’s 2020 pandemic budget of $6.6 trillion. But despite his declaration that the pandemic was over in September 2022, Biden and Schumer kept the COVID levels of spending well above $6 trillion. Overall, Biden’s spending was 36 percent higher than Trump. Is it any wonder that Bidenomics drove inflation to near historic levels?
Read the full piece here.
