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Biden versus Trump through Science
Cesar Antoine Kamel, Richard Hanna Beainy
Finance Department, Business School Holy Spirit University of Kaslik, Jounieh, Lebanon
DOI:
https://dx.doi.org/10.47772/IJRISS.2025.910000207
Received: 09 October 2025; Accepted: 15 October 2025; Published: 01 November 2025
ABSTRACT
This study aims to provide an informative and unbiased scientifical comparison of the Biden and Trump
presidencies for the American public, global media, and scholars. Using modern technology and utilizing official
data sources from the U.S. Government, Federal Reserve, World Bank, and United Nations, the study ran
hypothesis testing and Welsh t-tests on various societal indicators like war casualties and economic metrics like
debt and unemployment. Empirical evidence suggested that debt growth and death tolls are better (lower) during
a trump term, however in terms of unemployment the difference is not statistically significant, even though
numerically unemployment is slightly lower during a trump term. Finally, a Million scenario analysis took place
according to which financial prosperity in the United states is probable on the short term.
Keywords: Unemployment Rate, Government Debt, Wars, United States of America, Trump, Biden
INTRODUCTION
Background and Statement of the Problem
The role of the President of the United States has an immense influence globally, impacting not only the 340
million U.S residents, but also extends its influence to the lives of around eight billion people worldwide (Burns,
2019).
Hence, the decision between a Republican and a Democratic president, even though it is a personal choice for
U.S citizens, yet has significant consequences for non-Americans around the world. Surprisingly, even within
American nationalist circles, opinions frequently rely on subjective sentiments rather than objective data.
Furthermore, some individuals shape their opinion and form their views based on biased media outlets that
openly support either the Democratic or Republican party.
Purpose, Research Questions and Significance of the Study
Indeed, the influence of Pathos is already prominent in the media and charismatic speeches of candidates and
presidents which effectively appeal to emotions. However, the primary objective of this study is to focus on
Ethos, leveraging the credibility and trust associated with the esteemed journal you are perusing. It also relies
on logos, placing faith in the capacity of scholars to draw conclusions based on historical facts and rigorous
analysis. By emphasizing Ethos and logos, the study aims to provide a solid, rational, and trustworthy foundation
for its findings.
The initial three research questions related to finance present inherent challenges, particularly due to the
complexity of establishing a ceteris paribus environment in recent years, greatly influenced by the COVID-19
pandemic, which disrupted the financial system from 2019 until 2022 (Gee & Asmundson, 2023).
To maintain data objectivity, an effective approach has been adopted examining the first three years of each
president's first term. This control variable enhances the credibility of the results by ensuring that they are rooted
in the performance of the individuals rather than being excessively influenced by global events. Accordingly,
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data are handled with care and delicacy, especially given that the United States, as the global leader in research
and development has influence beyond its borders more than any country in the world (Beainy and Kamel, 2023).
The first research question examines individual welfare, focusing on which of the two presidents achieved
greater progress in reducing unemployment, while not directly addressing other far-reaching effects, such as
decreased crime rates and an overall enhancement of safety and quality of life within American Society
(Purnomo, Supriyo et al. 2023).
The second research question adopts a long-term perspective (Rienks, 2023), emphasizing that the debt incurred
today will ultimately be shouldered by future generations (Galbraith, 2023). In fact, the present debt is a burden
that will be paid by our children tomorrow.
Transitioning from the micro-level of analysis that considers 340 million individuals, to the macro-level that
encompasses the lives of 8 billion people globally, the final research question investigates war casualties
worldwide during each of the presidents' tenure. This broad perspective aims to assess the global impact of these
mandates on the backdrop of a larger population.
In addition to its distribution to global media outlets, the study's importance lies in its ability to offer valuable
data from an impartial, third-party perspective. Much like an individual residing on Earth may struggle to
perceive its roundness compared to an astronaut viewing it from afar, those deeply entrenched within a conflict
or division may have difficulty discerning the reality. However, an impartial third party can provide a clearer,
unbiased perspective, especially when using accurate data sourced from trusted institutions headquartered within
Washington, D.C.
LITERATURE REVIEW
Literature and Context
This section reviews the historical evolution of the American unemployment rate, the American debt, and the
war casualties in the core conflicts of the century.
Unemployment rates from Reagan (1981-1989) to Trump (2017 2021)
Unemployment rates are not only indicators of the general state of the economy, but also a reflection on
presidency success (Stiglitz, Sen et al. 2009). They are often associated with economic health and presidential
job approval (Wood 2007).
Graph 1: Unemployment Average Rates Across Presidencies
Source: Lunsford (2021)
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Under President Reagan (1981 1989), the unemployment rate broke 10 percent for the first time since World
War II, hitting 10.8 percent due to the ensuing spike in oil prices. It had returned to an average around 7
percent 1989 by the time President Reagan concluded his tenure (Healey and Strobel 1991).
Bush's administration (1989 1993) experienced a stable 18 months of unemployment, hovering around 5
percent. However, rates started to rise in July 1990, which peaked in June 1992 at an average of 6.8% (Pollin
2005).
Clinton (1993 2001) took office amid a period of robust economic growth, as seen by the continuous drop in
the unemployment rate during his presidency. It finished up at an average about 5 percent, having begun at an
average around 7 percent (Stricker 2003).
Under President Bush (2001- 2009), the terrorist attacks on September 11, 2001, instigated economic
uncertainty, which contributed to an increase in the unemployment rate. June 2003 saw a drop, which continued
through the summer and fall of 2007 until a dramatic increase happened in 2008, reaching a peak of 7.8 percent.
When Bush concluded his tenure, the average was about 6 percent (Hungerford 2012).
The unemployment rate was still rapidly rising when Obama (2009 2017) took office. It peaked in October
2009 at 10%, lingered just below that mark for the next year, and then started a gradual slide at the end of 2010,
that continued until early 2016 and broke past the 7% barrier at that time (Wibisono 2023).
Trump's administration (2017 2021) first years in office experienced consistent, low unemployment. In March
2020, the COVID-19 epidemic caused a sharp increase in unemployment to reach 14.8% before it declines to
reach an average of 5 percent (James 2021). Excluding Covid period, unemployment in President trump’s first
tenure was one of the lowest in modern American history, which has significant positive impact on the stability
of the international financial system (Kamel, Beainy, & Bteish, 2025).
Evolution of US debts under presidential term from 1981 till 2021
Before World War II, American national debt was around 33 Billion due to the Great Depression in 1920 and
the Roosevelt’s programs for unemployment and social security pensions (Kelly 2008, Johnson and Kwak 2012).
During World War II (19391945), the United States spent much on its own military and lent money to the
United Kingdom and other nations to help mitigating the cost of war. The United States owed $285 Billion at
the end of that war, resulting in the expansion of American economy. However, the post-war pattern of declining
national debt persisted.
The Vietnam War initiatives to support poverty, finance education and enhance transportation, all contributed to
a subsequent rise in debt within a few decades (Kelly 2008).
The government debt was still growing at the beginning of the 1980s due to significant tax cuts and a rise in
defense spending. The National debt was $2.7 Trillion at the end of Ronald Reagan administration mandate
(Aizenman and Marion 2011).
President Bill Clinton oversaw tax increases, cut defense expenditure, and the United States experienced an
economic boom that slowed down the expansion of the National debt that has reached $5.6 Trillion by 2000
(Warnock 2010).
Following the September 11, 2001 terrorist attacks, debts expanded in the new century. The economy stagnated
as more money was spent on Iraq War and Homeland security. Moreover, the Government borrowed a significant
sum of money from Social Security and Medicare (Kelly 2008).
The Government deficit reached over $8.1 Trillion by 2005. Between December 2007 and June 2009, the United
States went through a recession marked by high unemployment rates, the deflation of the housing bubble, and
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significant Government bailouts. In few years, the unemployment rate virtually doubled from 5.8 percent to 9.3
percent, while house values fell down by around 20% (Holton 2023).
To boost the economy and achieve a financial recovery, President George W. Bush signed the Troubled Asset
Relief Program into law in 2008. It was around a $700 Billion program. Well ahead, the $831 Billion American
Recovery and Reinvestment Act of 2009 was passed by President Barack Obama.
The National debt has increased to $12.3 Trillion by the end of 2009 (Maniam 2014).
The United States is by far the most indebted country in the world’s history (Hall, Payne et al. 2021). Although
debt has been a problem since America's founding, its rapid growth will endure to encourage Presidents to create
better programs for spending control (Siddiqui 2020).
Evolution of Wars Casualties in the most important conflicts of the century
Graph 2: Evolution of the number of casualties in Wars against Ukraine, Yemen, Syria, Afghanistan, and Iraq
from 1989 till 2022
Source: War and Peace - Our World in Data
What is historically proven is that wars are the main and direct cause of the increase in casualties worldwide
(Taylor 2023). The graph above shows the evolution of the number of victims resulting from the most substantial
wars of recent decades. The role played by the United States in these wars is detailed below.
Since World War II, there have been 15 Presidents for the United States of America, all of whom have presided
America through wartime situations, confronting varying stages of conflicts (Geys 2010). Most of them, such
President Trump who took office in January 2017, or President Biden who took office in January 2021, inherited
wars that their predecessors started or left behind (Hanhalo and Semerak, 2023). Both have inherited decisions
to continue the Wars against al-Qaeda and other Islamic jihadist groups in Iraq, Syria, Pakistan, Yemen, Libya,
Somalia, North Africa and elsewhere (Hanhalo and Semerak, 2023).
The United States, under Presidents Obama and Trump, supported the Saudi-led coalition against the Iran-backed
Houthis, although President Biden reversed this support in 2021 (Stewart 2023). However, since February 2022,
Houthi forces and allied Iraqi Shiite militia have launched missiles and drone strikes against targets in the United
Arab Emirates (UAE), who is member of the anti-Houthi coalition. These strikes required U.S forces to fire back
in order to defend their military bases that are stationed in the UAE. This was the first time the U.S has used
Patriot missiles since the 1991 Gulf War (Moqbel, 2023).
With Russia's invasion of Ukraine in 2022, the United States increased its support for Ukraine, providing
weapons, training, money, economic and political support (Kagan, 2023). In fact, under Biden's presidency a
new cold war has been developed with Russia, Iran, North Korea, and China (Sullivan, 2023).
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Hypothesis Development
To address the research inquiries through a quantitative approach, three hypotheses were formulated, all
indicating that the accuracy of our assertions is unfounded and incorrect and that the disparity in impact between
the two presidents is negligible.
Hypothesis One: The unemployment rate in the United States remains consistent during both President Trump's
and President Biden's mandates.
The objective of the first hypothesis is to investigate whether either of the presidents exerts a significant influence
on the lives of American individuals by examining the consistency of the unemployment rate in the United States
during both President Trump's and President Biden's mandates.
Table 1: Focus of Hypothesis one
Hypothesis Number
Studies the impact on:
One
American Individual
Hypothesis Two: There is no significant difference in the United States debt between Donald Trump's
presidency and Joseph Biden's.
The goal of the second hypothesis is to assess whether the United States, as a cohesive entity, undergoes
substantial changes under either of the two presidents, specifically analyzing the United States debt during
Donald Trump's and Joseph Biden's presidencies.
Table 2: Focus of Hypothesis two
Hypothesis Number
Studies the impact on:
Two
The United States as a country
Hypothesis Three: The loss of human lives due to war shows similarities between Trump's and Biden's
administrations.
The aim of the third hypothesis is to scrutinize potential significant differences on a global scale, particularly in
terms of the loss of Human lives due to war, by comparing the similarities in the loss of Human lives due to war
between Trump's and Biden's administrations.
Table 3: Focus of Hypothesis three
Hypothesis Number
Studies the impact on:
Three
The World
Table 4: Hypothesis development summary
Hypothesis
Focus
Level of Analysis
One
Unemployment
Individual
Two
National Debt
National
Three
War Casualties
Global
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RESEARCH METHODOLOGY
Data Collection and Sampling Method
All data were sourced from various entities headquartered within the United States capital (data sources are
shared in detail in the references).
Initially, data related to unemployment rates were gathered from the U.S. Bureau of Labor Statistics, an official
website of the U.S. government and double-checked through FRED, the Federal Reserve Bank of St. Louis.
Additionally, data related to Debt were collected on a quarterly basis from the federal reserve bank of Saint Luis,
in addition to the U.S treasury department.
Finally, data related to the toll of human casualties was collected from the World Bank’s official open data
sources.
It is worth noting that the data used in this study was solely sourced from governmental and international entities,
along with their authorized websites, which ensure the utmost accuracy in in the input, which in turn provides
reliability for the results.
Empirical framework and Data Treatment
We employ a transparent, data‐driven design that compares the first three years of each president’s first term
(Trump: 2017-01-20→2020-01-19; Biden: 2021-01-20→2024-01-19) to limit confounding and anchor results
in comparable windows. Official series are used throughout: the U.S. unemployment rate (BLS, monthly,
seasonally adjusted), gross federal debt (FRED/Treasury, quarterly, current dollars), and battle-related deaths
worldwide (World Bank, annual). Data are cleaned and aligned to a common frequency. To test the null that the
two presidencies do not differ, we apply Welch’s two-sample t-test to monthly unemployment means and
quarterly debt dynamics—both the change in levels (Δ) and quarter-over-quarter growth, furthermore the study
ran a t-test on all 3 hypotheses to detect, if present, a significance difference between the two periods,
furthermore, using modern technology the study runs a 1,000,000 scenario analysis to analyze the possibility
that President Trump will be able to reduce the government deficit, thus positively reducing debt growth.
As a first step, and with a purpose to determine the optimum method to test the hypothesis we conducted a two-
sample F-test for variance
Table 4: 2 Samples F Test for Variance
Debt B (millions $)
Mean
30,453,120.8
Variance
2,696,716
Observations
11.0
Df
10.0
F
P(F<=f) one-tail
F Critical one-tail
UN Rate B (%)
Mean
4.3
Variance
1.0
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Observations
11.0
df
10.0
F
P(F<=f) one-tail
F Critical one-tail
Humans Casualties (Per Quarter) B
Mean
325,863.5
Variance
25,398
Observations
11.0
df
10.0
F
P(F<=f) one-tail
F Critical one-tail
According to the above table, the best model to use for reliable results is T-test for 2 samples assuming non-
Equal Variance, with T as an annotation referring to President Trump and B as an annotation referring to
President Biden.
RESULTS AND DISCUSSIONS
Results
Table 5: T-test Results
Notion
UN Rate
T
UN Rate
B
Debt
T
Debt
B
Humans Lost
T
Humans Lost
B
Mean
4.01
4.25
2.12
3.05
84.35
325.86
Observations
11.00
11.00
11.00
11.00
11.00
11.00
Hypothesized Mean
Difference
0.00
0.00
0.00
df
12.00
16.00
10.00
t Stat
-0.76
-16.12
-5.00
P(T<=t) one-tail
0.23
0.00
0.00
t Critical one-tail
1.78
1.75
1.81
P(T<=t) two-tail
0.46
0.00
0.00
t Critical two-tail
2.18
2.12
2.23
Referring to the Above, as the T Stat 0.76 < Critical 1.78 we fail to reject the null hypothesis one, according to
which the unemployment rate in the United States remains consistent during both President Trump's and
President Biden's terms.
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Figure 1: Unemployment Rate (%)
Source: Biden versus trump in numbers study
However, in Both the Debt Case and the War Human casualties, T stat for the former is 16.12 > Critical 1.75
and for the latter 5 > Critical 1.81, therefore we successfully reject both null hypothesis two according to which
there is no significant difference in the United States debt between Donald Trump's presidency and Joseph
Biden's and three, that states that the loss of human lives due to war shows similarities between Trump's and
Biden's administrations.
Figure 2: Gross Debt (Billions of $)
Source: Biden versus trump in numbers study
According to the above, by using official data and running a technical analysis, we can conclude that President
Trump had a better performance in terms of debt. Furthermore, due to unknown reasons which are not part of
this study, wars are less likely to erupt within his presidency, thus quantitatively, the observed death tolls decline
significantly under a tenure of President Trump.
Table 6: Welch-t results
Indicator
Trump
Biden
Test
P value
Unemployment (mean, %)
3.9750
4.2111
Welch t, means
0.169
Debt ($ bn, 3 yrs)
3354960
5868924
Welch t Quarter over Quarter
0.126
Source: Source: Biden versus trump in numbers study
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However using Welch’s tests, we do not find statistically significant differences in average unemployment or
in the quarterly debt dynamics between the two presidencieseven though the absolute 3-year debt increase is
numerically larger in the Biden window, and unemployment rates are percentage wise better during trump’s
presidency.
Figure 3: 1,000,000 regarding reduction of Deficit
Source: Monte Carlo Simulation study for IJSRMT (International Journal of Scientific Research and Modern
Technology) .
As per the results of the above Montecarlo analysis, in over 50% of the 1,000,000 scenarios analyzed in the
study, President Trump in his second term can reduce Government Deficit to GDP, which further supports the
argument according to which the impact of President Trump is significantly positive in terms of debt reduction.
CONCLUSION
Contributions
In today's era, prioritizing numerical and empirical evidence allows us to draw conclusions based on mathematics
and statistical tests rather than being influenced by politicians' discourse, especially when significant
implications are at stake. In a world where media is used as a tool to shift public opinion, such quantitative
scientific studies in the world's best journals promote critical thinking for individuals worldwide (Beainy and
Kamel, 2023), promoting the latter would enhance proper decision making and the latter combined with
democracy, according to which the decision is for the people, would render such articles as medications against
Communism, discrepancy and uninformed irresponsible decision making which caused many voters in the past,
especially Americans, regret their decisions.
LIMITATIONS
The World Bank's data on war-related losses were originally reported on an annual basis up to 2022, rather than
being segmented into quarters. However, for quarterly results, the identical annual figure was utilized and
divided into four equal parts.
The numbers in 2024 are sadly much higher, which is coherent with the study’s results and supportive to its
argument.
In the previous Decade, no years has been as bloody as 2023-2024, which further supports the need of such
studies and the accuracy of its claims.
All other data related to Debt and Unemployment were extracted on a quarterly basis, did not vary in 2024 and
are faithful presentations to Debt and Unemployment in the United States, according to the US Treasury
Department and the US Bureau of Labor statistics.
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Finally, the future outlook provided by the study through the Monte Carlo simulation is positive regarding the
enhancement of the U.S Federal Budget balance, especially in the near term, yet as the stability of the U.S
financial system is essential for the international financial system, especially developing countries that count on
the U.S support to prosper (Beainy, 2023), another study ought to repeat the 1,000,000 scenario analysis on both
medium and long terms.
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