National debt tops $31 trillion, up from $27.7 trillion when Biden took office

After two pandemic stimulus packages under former President Trump that drove the deficit and debt to record levels, Biden signed a $1.9 trillion stimulus package after taking office.

By Nicholas Ballasy

Published: October 5, 2022 9:43am

Updated: October 5, 2022 10:04am

The total U.S. national debt has surpassed $31 trillion for the first time in U.S. history, up from $27.7 trillion when President Joe Biden took office.

The Democratic-led House and Republican-led Senate passed two pandemic stimulus packages in 2020 under former President Trump, which drove the nation's deficit and debt to record levels.

The Democratic-led Congress passed Biden's $1.9 trillion COVID-19 stimulus package shortly after taking office. He signed the bill in March 2021. Biden has also signed a $2 trillion infrastructure bill into law as well as a $280 billion CHIPS bill. He recently signed the $740 billion Inflation Reduction Act.

The debt surpassed the $31 trillion mark late Tuesday.