Biden ran up insane bills before he left the White House heres how Trump plans to pay them down

Team Trump is battling not only the Democrats and the stock market, but also a huge and unproductive spending spree that Joe Biden unleashed in the final months of his presidency, On The Money has learned.It was an attempt to goose the economy and the markets – so people could forget Kamala Harris was an empty suit on policy and get her elected last fall.The good news: It didn’t work for Harris.  The bad news: The bill is coming due.During the campaign, whispers of Sleepy Joe’s Harris-related spending spree leaked out of the Trump campaign from time to time.But now that the Trumpers are in the White House, they’re starting to tally it up. The numbers are anywhere between $300 billion and $250 billion depending on how you measure and classify the largesse.

Robbert van Batenburg, of the influential Bear Traps market report, says his analysis backs up those estimates.Wall Street executives who delved into the matter say the Bidenistas were able to paper over the spending though the chicanery of rolling over short-term debt instead of issuing longer-dated bonds that would have causes a spike in interest rates, a stock market selloff and probably a recession.However big the bill, everyone agrees that it’s a lot of money that the bloated federal government doesn’t have.

You can’t roll over debt forever because investors get wise to the game and then keep demanding ever higher interest rates to lend the government money.Team Trump tells On The Money the hole they’re in is large and will take a while to dig out from.

They are still rolling over short-term debt because they don’t want to upset the interest rates environment.Meanwhile, they’re banking on the cuts by Elon Musk’s DOGE team are to make sure interest rates don’t blow out to levels that could cause a deep recession because of all the debt and spending.The numbers don’t lie: A budget deficit approaching $2 trillion (by comparison, Trump’s last pre-COVID deficit was $984 billion) a...