evidence: Biden says he cut national debt by $1.7T — when he actually increased it by $3.84T President Biden wrongly claimed Tuesday that he slashed the national debt by $1.7 trillion — despite increasing it by about $3.84 trillion over his first two years in office. [...] "You know you hear ads with the big-spending Joe Biden?" Biden said during a speech in Virginia Beach, Va. "In two years, I reduced the debt $1.7 billion — $1.7 billion.