The U.S. government’s gross national debt has surpassed $37 trillion, setting a new record. This highlights the rapid acceleration of debt on America’s balance sheet and the increasing cost pressures on taxpayers.
apnews.com
Trump's new Big, Beautiful Bill projected to add another $4.1 Trillion.
Trump added 7+ trillion his last term, Biden added almost 9t in his term, and Obama added 10t in his two terms with low interest rates.
With the current borrowing rates, it would be a win to escape with $41 trillion national debt in his four years. Personally, I’ve said this since before Trump won this election, I’ll judge him by the national debt. He did a great job stopping the ridiculous influx of illegals, he’s done a good job deportations if maybe hasn’t been some overkill, but this trade plan could work out fantastically for budget balancing and eventual debt reduction. We will know soon enough if it works out. Someone much smarter than I am tells me he expects some of our debt to be refinanced to save us 220b in annual debt service by the end of the year. I think we’re at a 1.8t deficit, so the 200 billion refinance savings and 450 billion in consumption tax (tariff revenue) income still leaves us over 1 trillion in the hole in the 26 budget. Defense spending I expect will be reduced next year as this year they hid some border and immigration money in defense to my chagrin. I’d like to remove the SALT deduction for everyone over 100k single / 175k household. I’m pretty sure this would get as close to a balanced budget.
