Put the campaign signs away: one Treasury ledger, four administrations. Obama entered with $10.63 trillion; the handover balance was $19.95 trillion, an increase of $9.32 trillion. Trump’s first term added $7.80 trillion. Biden’s term added $8.47 trillion. Trump’s second term is counted from the first Treasury record, January 21, 2025: by September 11, 2026, another $3.83 trillion was added, in ab

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