Biden Could add up to $9 trillion to The Total Debt by 2031.
According to Fortune, the U.S. will most likely reach the levels well above where such heavy borrowers as France, Spain, and the the overall European Union. The $550 billion bipartisan infrastructure measure, and the $3.5 trillion reconciliation bill that’s so hotly debated in the Democratic ranks. Those include a huge expansion of Obamacare and college aid, and a big bump in discretionary spending. By Riedl’s estimate, the Biden measures are likely to add $9 trillion to our total debt by 2031, over and above what existing programs would have tacked on prior to his election. That amounts to 25% in extra borrowing.