Policy initiatives passed by former President Donald Trump added $8.4 trillion to the national debt over the following 10 years, according to analysis from the Committee for a Responsible Federal Budget.
“Of the $8.4 trillion President Trump added to the debt, $3.6 trillion came from COVID relief laws and executive orders, $2.5 trillion from tax cut laws, and $2.3 trillion from spending increases, with the remaining executive orders having costs and savings that largely offset each other,” reads the CRFB report.
Those figures are derived from policies passed during Trump’s administration plus interest on those costs, but ignoring “policies put in place before President Trump took office.”
GOP presidential primary rival Nikki Haley has often criticized Trump for overseeing such a significant increase in the nation’s debt.
“You have Ron DeSantis, you have Tim Scott, you have Mike Pence, they all voted to raise the debt and Donald Trump added $8 trillion to our debt and our kids are never going to forgive us for this,” said Haley in the first GOP primary debate this cycle.
But no worries – Republicans only care about the debt when a Democrat is president.
You need to add context.
First thing:
The President doesn’t create the budget or hold the checkbook. Congress does. In that whole time the Congress was overtly controlled by democrats. When it wasn’t overtly controlled, it was minority controlled.
If you look at the following link and look at 1/1/17 to 1/1/21, Trump’s years, the debt was
2017 to 2018 $1.3T from Obama ‘s last signed budget.
2018 to 2019 $1.2T
2019 to 2020 $3.2T <—– that’s Congressional spending beyond revenue before Covid
2020 to 2021 $1.5T <—— Covid
2021 to 2022 $2.5T from Trump’s last signed budget. <—- covid
2022 to 2023 $2.3T <—- post covid
When he gets re elected, send him an overt republican controlled Congress and see what he can do.
People are just oblivious with his terrible economic results. I’m glad to see the figures separated out by his tax cuts and spending increases.
The kicker is that he never once hit a full year growth of 3% after jucing the economy with tax cuts, increased spending and lowering interest rates. He is an economic clown show as the self proclaimed king of debt.
A combination of spending hikes and tax cuts raises the deficit. Trump oversaw both.
If Trump had done what he said he’d do and paid off part of the national debt before Covid hit, rather than passing corporate tax cuts, maybe he wouldn’t have the third biggest primary deficit growth, just behind George W. Bush. But what do we expect from a guy who’s had six bankruptcies?
yeh covid was bad.
Can we get an analysis of what would’ve happened if governors kept their states locked down and the federal government didn’t print 8 trillion dollars?
Like please. I’d love to know.
Wasn’t that during one of the largest shut downs in human history during a pandemic…
I mean that is what is said when gas was $1.59 near me during trump.
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Policy initiatives passed by former President Donald Trump added $8.4 trillion to the national debt over the following 10 years, according to analysis from the Committee for a Responsible Federal Budget.
“Of the $8.4 trillion President Trump added to the debt, $3.6 trillion came from COVID relief laws and executive orders, $2.5 trillion from tax cut laws, and $2.3 trillion from spending increases, with the remaining executive orders having costs and savings that largely offset each other,” reads the CRFB report.
Those figures are derived from policies passed during Trump’s administration plus interest on those costs, but ignoring “policies put in place before President Trump took office.”
GOP presidential primary rival Nikki Haley has often criticized Trump for overseeing such a significant increase in the nation’s debt.
“You have Ron DeSantis, you have Tim Scott, you have Mike Pence, they all voted to raise the debt and Donald Trump added $8 trillion to our debt and our kids are never going to forgive us for this,” said Haley in the first GOP primary debate this cycle.
But no worries – Republicans only care about the debt when a Democrat is president.
You need to add context.
First thing:
The President doesn’t create the budget or hold the checkbook. Congress does. In that whole time the Congress was overtly controlled by democrats. When it wasn’t overtly controlled, it was minority controlled.
If you look at the following link and look at 1/1/17 to 1/1/21, Trump’s years, the debt was
https://fiscaldata.treasury.gov/datasets/historical-debt-outstanding/historical-debt-outstanding
2017 to 2018 $1.3T from Obama ‘s last signed budget.
2018 to 2019 $1.2T
2019 to 2020 $3.2T <—– that’s Congressional spending beyond revenue before Covid
2020 to 2021 $1.5T <—— Covid
2021 to 2022 $2.5T from Trump’s last signed budget. <—- covid
2022 to 2023 $2.3T <—- post covid
When he gets re elected, send him an overt republican controlled Congress and see what he can do.
People are just oblivious with his terrible economic results. I’m glad to see the figures separated out by his tax cuts and spending increases.
The kicker is that he never once hit a full year growth of 3% after jucing the economy with tax cuts, increased spending and lowering interest rates. He is an economic clown show as the self proclaimed king of debt.
A combination of spending hikes and tax cuts raises the deficit. Trump oversaw both.
If Trump had done what he said he’d do and paid off part of the national debt before Covid hit, rather than passing corporate tax cuts, maybe he wouldn’t have the third biggest primary deficit growth, just behind George W. Bush. But what do we expect from a guy who’s had six bankruptcies?
yeh covid was bad.
Can we get an analysis of what would’ve happened if governors kept their states locked down and the federal government didn’t print 8 trillion dollars?
Like please. I’d love to know.
Wasn’t that during one of the largest shut downs in human history during a pandemic…
I mean that is what is said when gas was $1.59 near me during trump.