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Unread 2019-02-13, 12:39   #1
aarkieboy's Avatar

Feb 5 2003
85,138 posts
Age 63
Somewhere on this ball we call "Earth"

"The Treasury Department released a report Tuesday evening confirming that the national debt had hit a record $22 trillion — nearly four years after then-candidate Donald Trump promised his supporters he would reduce the national debt from $18 trillion, if elected president.

In its fiscal statement, the department noted the total public debt had reached $22.012 trillion, the first time it has surpassed $21 trillion in history. On the day Trump took office, it was $19.947 trillion, meaning under his administration, the debt has actually risen $2.065 trillion.

Part of this is due to underlying trends in the growth of Medicare and Social Security costs, but the figure can also be attributed to the trillion-dollar deficit cost of the tax cuts Trump and congressional Republicans forced through in 2017, which predominantly benefited corporations and the wealthy.

The ballooning debt stands in stark contrast with Trump’s earlier campaign promises.

At his official campaign launch address in 2015, Trump told supporters he would apply his business acumen to federal fiscal policy, right from the get-go, saying he would “reduce our $18 trillion in debt, because, believe me, we’re in a bubble.”

“Sadly, the American dream is dead,” he said at the time. “But if I get elected president I will bring it back bigger and better and stronger than ever before, and we will make America great again.” (More)
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Go Back   Mechapixel Forums > Main > Aarkie's Corner > Trump said he’d cut the national debt ‘very quickly.’ It just hit a record $22T
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