>After he took office, Trump predicted that economic growth created by the 2017 tax cut, combined with the proceeds from the tariffs he imposed on a wide range of goods from numerous countries, would help eliminate the budget deficit and let the U.S. begin to pay down its debt. On July 27, 2018, he told Sean Hannity of Fox News: “We have $21 trillion in debt. When this [the 2017 tax cut] really kicks in, we’ll start paying off that debt like it’s water.”
>Nine days later, he tweeted, “Because of Tariffs we will be able to start paying down large amounts of the $21 trillion in debt that has been accumulated, much by the Obama Administration.”
>That’s not how it played out. When Trump took office in January 2017, the nonpartisan Congressional Budget Office was projecting that federal budget deficits would be 2% to 3% of our gross domestic product during Trump’s term. Instead, the deficit reached nearly 4% of gross domestic product in 2018 and 4.6% in 2019.
Time and time again the GOP pretends to care about the debt but does worse than nothing about it when given power.
I’ve been told tax cuts will pay it off
Funny how there’s not a peep about the national debt when the GQP is in power
They’re increasing defense spending though but hey they made cuts to the National Park Service.
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Part of the progressive liberal democrats plans. And no, you can’t do anything about it. Buy gold
But let’s tax more people guys! That’ll solve the problem!
Its a complete myth that Trump and Republicans are good on the debt policy-wise. They talk about it a lot but their actions make it much much worse.
**[Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years](https://www.propublica.org/article/national-debt-trump)**
>After he took office, Trump predicted that economic growth created by the 2017 tax cut, combined with the proceeds from the tariffs he imposed on a wide range of goods from numerous countries, would help eliminate the budget deficit and let the U.S. begin to pay down its debt. On July 27, 2018, he told Sean Hannity of Fox News: “We have $21 trillion in debt. When this [the 2017 tax cut] really kicks in, we’ll start paying off that debt like it’s water.”
>Nine days later, he tweeted, “Because of Tariffs we will be able to start paying down large amounts of the $21 trillion in debt that has been accumulated, much by the Obama Administration.”
>That’s not how it played out. When Trump took office in January 2017, the nonpartisan Congressional Budget Office was projecting that federal budget deficits would be 2% to 3% of our gross domestic product during Trump’s term. Instead, the deficit reached nearly 4% of gross domestic product in 2018 and 4.6% in 2019.
Time and time again the GOP pretends to care about the debt but does worse than nothing about it when given power.
I’ve been told tax cuts will pay it off
Funny how there’s not a peep about the national debt when the GQP is in power
They’re increasing defense spending though but hey they made cuts to the National Park Service.
[Our Federal debt is being privatized](https://www.reddit.com/r/PapaParenti/comments/17vgrfl/our_federal_budget_is_being_privatized_to_pay_off/). We cut the taxes on the ultra-rich and then borrow money from them, and have to pay back the ultra-rich creditors, with interest.
I guess the stock market is benefitting…?
Who cares anymore? I don’t owe anybody a penny, good luck with that.