Swimming in free Fed QE trillions, then brags about the economy it created.
Once again, bleating ORANGE MAN BAD means nothingHow Much Did President Trump Add To The National Debt.
How Much Did President Trump Add to the Debt? | Committee for a Responsible Federal Budget
2024-01-10-Note: We published a more comprehensive, up-to-datewww.crfb.org
In the recent GOP primary presidential debate, former United Nations Ambassador Nikki Haley claimed that President Trump added $8 trillion to the national debt while Florida Governor Ron DeSantis said that President Trump added $7.8 trillion to the debt. These statements are true, depending on how you measure additions to the debt. We estimate the ten-year cost of the legislation and executive actions President Trump signed into law was about $8.4 trillion, with interest.
It’s also the case that the government accumulated $7.8 trillion of gross federal debt while President Trump was in office, though much of this is unrelated to President Trump’s actions.
There are at least two ways to measure how much President Trump added to the debt – though coincidentally they lead to similar conclusions of about $8 trillion.
One way to measure how much President Trump borrowed is by estimating the debt accumulated over his presidency. Over the course of President Trump’s four years in office, the gross national debt grew from $19.95 trillion to $27.75 trillion – a $7.8 trillion increase (debt held by the public – the more economically-meaningful measure of debt – grew by $7.2 trillion over this period). However, much of this borrowing was due to policies put in place before President Trump took office or due to unexpected changes in circumstance. Debt was already projected to grow by about $3 trillion for the four years of his term when President Trump took office, and some of the additional debt accrued was also the direct result of the COVID-19 pandemic and recession. It’s also important to note that the government was holding an unusually large $1.6 trillion in cash when President Trump left office, which inflated the growth in debt relative to the deficit run during his time in office.
www.washingtonexaminer.com
www.newsweek.com
Once again, bleating ORANGE MAN BAD means nothingTrump's Legacy: $8 Trillion Plus Added Debt In One Term.
Trump’s legacy: $8 trillion-plus in added debt in one term - Washington Examiner
President Trump promised in the 2016 campaign to eliminate the federal debt over a two-term presidency. That pledge won't come to fruition, and, in fact, he will leave office having added massively to the debt.“His tenure has been marked by a total disregard for any concern about mounting debt,”...
President Trump promised in the 2016 campaign to eliminate the federal debt over a two-term presidency. That pledge won’t come to fruition, and, in fact, he will leave office having added massively to the debt.
“His tenure has been marked by a total disregard for any concern about mounting debt,” said Jim Capretta, a resident fellow at the American Enterprise Institute, a right-leaning think tank in Washington, D.C.
When Trump was inaugurated on Jan. 20, 2017, the total national debt was nearly $20 trillion, according to the Treasury Department. It has increased over roughly 30% since, nearly $8 trillion, to $27 trillion, as of Monday.
Once again, bleating ORANGE MAN BAD means nothingDonald Trump Added Twice Much To National Debt As Joe Biden.
Donald Trump added twice as much to national debt as Joe Biden: Think tank
Trump approved $8.4 trillion in borrowing over a decade, while Biden has approved $4.3 trillion.
Former president Donald Trump approved almost twice as much borrowing as current President Joe Biden during his four years in office, according to the Committee for a Responsible Budget (CFRB).
Trump, who presided over the federal government from 2016 to 2020, approved $8.4 trillion in new ten-year debt. But incumbent president Biden, who defeated Trump four years ago, has approved $4.3 trillion in new borrowing, said a new report by the committee.
As for reducing the budget deficit, Trump cut it by $443 billion. The Biden administration has reduced it by $1.9 trillion.
The U.S. is sitting on a total of $34.73 trillion in national debt, accrued over the country's history, according to government data.
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, told Newsweek that in three years the national debt will surpass its all-time record as a share of growth domestic product of 106 percent set just after the Second World War.
Get to reading, moron.
Not to his cult.
Still........WHINING?
What sucked about it?
