SO MUCH WINNING!!
Total US debt hit a new high on Wednesday, reaching a $40 trillion milestone. This debt, under the Trump House of Cards’ foundation, supports a bloated military budget, Trump tax cuts, and the social safety net for American citizens.
Interest payments to investors who have purchased America’s debt makes up about half of that red ink.
This year alone, the US government is borrowing $2 trillion to pay for its obligations.
- In 2016, Trump said he would eliminate the national debt by making trade deals and jump-starting economic growth.
- Ten years later, the national debt has doubled, and economic growth is falling. Spending cuts and increased revenue have not materialized.
Nearly a third of that debt accrued during the Covid pandemic, with President Biden spending $8.4 trillion on pandemic recovery, infrastructure investment, clean energy subsidies and other Democratic priorities.
In Trump’s first term, Republicans added $7.8 trillion to the debt, with about half of that implemented as a Covid response in the last nine months.
Since taking office for his second term, the Trump debt adds another $3.8 trillion, including the One Big Ugly Tax Cut for Billionaires and military spending.
Trump’s total over the two terms comes to $11.6 trillion.
