By Heather Long Heather Long Economics correspondent Email Bio Follow March 12 at 11:59 AM In March of 2016, then candidate Donald Trump told The Washington Post he could eliminate the entire U.S. debt in eight years. Now that he’s president, Trump is doing the exact opposite.
To put it another way, if the economy does not have an awe-inspiring ride in the next decade and instead performs more like what CBO anticipates, Trump would be on track to add close to $10 trillion to debt held by the public by 2025 — more than the $7 trillion added under former president Barack Obama.
But Trump’s own budget calculations show that reducing taxes and making heavy cuts to domestic programs do not balance the budget . If he serves eight years, Trump would leave with higher debt as a percent of GDP than when he entered office, according to White House forecasts. Social Security and Medicare are driving forces of growing government spending in the years to come. Trump also promised during the 2016 campaign he would not touch Medicare or Social Security. In his latest budget proposal, he includes a $845 billion cut to Medicare.
Its true.time the mega rich and huge companys to pay taxes at about 70 percent.
BEST_FROM_EBAY He does not care...he lives on other ppl's bankruptcies..... This would just be the bankruptcy of the United States but as long as he has money he since his flaccid ego is tied to his so called wealth
More than 50 percent higher than the year he 'stole' the office. There you go!
Trump preaches 'promises made promises kept' As I recall, he promised Mexico would pay for his wall. He also promised to eliminate the national debt in 8 years, but is on track to increasing the debt by 50%. He said he would change healthcare, that did not happen. None kept!
Another $8.6 million for his wall ? This inflation thing is really hitting him right in our wallets .
Not bad considering Obama added almost 100% to the national debt (double Trump)..... When Obama took office the debt was a$10.626 trillion. When Obama left, it was $19.947 trillion....
He could do it too if the left would stay out of his way let the man work. he's already done amazing job for this country.
Far from making America great again Trump is doing everything he can to ensure US dominance is a footnote in the history books. A deficit with the sole purpose of distributing a nations wealth to the ultra wealthy.
“He knows debt” - if anyone thought he would survive without increasing it is just stupid
This is Fake News, when Obama left office the debt was 20 Trillion, adding 2.8 trillion by 2025 IS NOT 50%
Is there any fiscal spenders left in the GOP or, are they just going to let Trump go and leave it up to the Democrats to fix this mess in 2020. Tea party where are you? Debt ceiling critics? Balance Budget? $2 saved for every $1spent? Conservative Republicans?What happen? A wall!
Make America Great Depression Again. He likes debt and always leaves it to someone else to pay, guess who America?
But still way less than Obama
The GDP will be $23 Trillion also by 2025. GDP:Debt = 1 is okay. Japan's Debt is 2X its GDP.
Right, where were you when obama DOUBLED national debt?
That's what happens when a total business failure steals, with Russia's help, the oval office.
Who wouldn't increase the nat'l debt by giving their children $100 million budget to role play the Apprentice & show off unskilled talents. cnni AxiosWorld WSJ TIMEWorld Reuters nytimes MSNBC NBCNewYork latimes BBCWorld AriMelber Lawrence BostonGlobe
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I live these comments. Not smart enough to know that by those numbers. Trump slowed the growth of debt tremendously.
It was 19 trillion in 2016. How's 22 trillion a 50% increase?
For context, when Trump took office what was it projected to be by 2025?
Does anyone fucking recall that this guy is the fucking bankruptcy man? six fucking times and people actually knew that and said... “Yes let’s get that fucking guy in charge of our fucking economy America!” Stupid fucking people vote all the time!
I'll bet anyone on here that Trump couldn't balance a 16 year old's checkbook.
Campaign lies I meant.
What a businessman and deal maker! How many bankruptcies? How many campaignin lies?
He bankrupts everything he touches...it's not his personal budget, but a 'pipe' dream he and the GOP have been 'dreaming' about since they got on the 'pipe'
Trump is clearly a disaster for America.
Given the fact that his Democrat predecessor, Barack Obama, caused and presided over a doubling of the U.S. debt - $10 TRILLION added, the forecast debt under President Trump is far less and the economy is much better.
This is another bald faced lie by the Poo. Public debt was bout $19 trillion in Sept. 2016 about 3.5 months prior to Trump taking office. $22.8 trillion would be an increase of about 20% in 9 years. All your figures are suspect.
Too much winning.
WTF does anyone expect from someone so familiar to the bankruptcy world.
Is sombody finally waking up to what most New Yorkers already know?
And we were warned before the election
King of debt. No surprise here. You knew what you’d get
“Promises made, promises (not so much) kept”
Does the budget include his golf travel
lol!!! Stupid Americans....
realDonaldTrump is Mr Bankrupt the only job he is good at
stopsmiling Alium Popularem Pecunia is trumps motto...
FakeNews You need to check your math WaPo.
To be fair, you expect Donnie to deliver on his lies, I mean promises, AND do math? Oh, come on.
My God! spinning out of control !!! Our national security is being destroyed everyday by KGB Trump.
Disgusting
Anyone surprised? Not I. POTUS has made a career of spending other people’s 💰. That’s what he does. What did we think would happen with him in office?
Where was WaPo when Barry O racked up 10 Trillion in 8 years? Misleading
OFemmeFataleZ So...we’re right on track with the casino bankruptcy style budget plan then. Got it.
Now do Obama
He doesn't even have a recession recovery to deal with. This is just blatant rage spending. He's trying to cause a recession.
yikes, gonna need a LOT of lube!
While our economy will have trippled by then.
Obama managed 100% higher. Whats you point ?.
This guy only knows how to spend money.
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And Odumbo the Kenyan increased or national debt more than the previous 6 presidents combined.....Trump is doing fine, don't list to these fools at the WP they are propagandists, nothing more.
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It’s all okay! It’ll be the problem of the NEXT guy! 😎😎😎
bankruptcy CaptainDebt what did you expect the marketing genius knows nothing about managing a business or government. And not living up to promises that is nothing new as well TrumpFail
catherineanntuc He runs businesses into the ground. That's who he is.
All this winning right? I hope his voters are getting everything they sign up for!!!
PresidentBush managed to double over 200 years of debt in 8 years, PresidentObama managed to double that again in 8 years, 50% increase is actually a bargain compared to previous Presidents as pathetic as that sounds NationalDebt Total FederalBudget 2004 was $2.2T now $4.7T
bankruptcy is his specialty realDonaldTrump
Where the fuck is the outrage from all the so called “fiscal conservatives “?!?!
Hey MarshaBlackburn VoteMarsha, Care to comment?
And I still don't have my beautiful Healthcare plan.
Yep, he’s running the government exactly the way he ran his business. He already tested the water to see how not paying his employees would work out. We should be filing for bankruptcy very soon.
Whatever happened to those mythical Repub deficit hawks? Have Trump's sons shot them?!
Can the United States declare bankruptcy. I know Donald has experience with this and is showing his base he's good at something.
I don’t see that debt as a problem. He just figures he can go the bankruptcy route ad stick the suckers with the unpaid debt. Reminder : I love debt. “. ( Donald Trump ).”
So much for being a master of debt, eh? Honestly, LOL forever if you were stupid enough to believe one word out of the mouth of a career conman.
Eugene_Scott Fiscally conservativism means spend and let a Democrat clean it up.
Trump in the White House is the new bull in a china shop.
It’s because he doesn’t give a shit!! realDonaldTrump knows high cholesterol is going to catch up with him very soon and that heart disease will eventually win the game and it won’t be his problem anymore. What’s it to him if he runs the country into the ground? FastFoodDiet
Talk about abuse of power and crimes against the US.
He could do ti if the democrats did not undermine anything he does.
Those tax breaks to the ultra wealthy surely are hurting vast majority of America. Too soon to thank HouseGOP, SenateGOP, and realDonaldTrump
It was nearly 20t when he took office. How is 22.8 50% more than.... The fact that you're the DC paper is perfectly apropos.
Haha best president ever.'no president has ever had a higher deficit' bigly numbers
Well after previous bankruptcies allowed realDonaldTrump to right off $916 million of Net Operating Losses, imagine what he can do with this... The man is nothing but a low-life crook and mobster!!!
And he KILLED Obama for the debt at 20T...HYPOCRIT!! Is it 2020 yet?
what a stats
Where this 50% from. It was 20T when Obama left office.
People need to remember that the old school thinking that Dems spend money and the GOP doesn't is now exactly backwards. The GOP comes in and uses the government like Daddy's credit card, handing out money everywhere, and then the Dems come in and control things. And then Trump.
What else should we expect from a con artist and a liar?
Meanwhile..,
All this winning is just amazing
Cue recession, and another Democratic clean-up operation that wouldn't have happened if Republicans practiced what they preach.
One thing I finally realized is that trump isn't doing anything, like his job is just to be a fall guy. Who is doing are the very ones backing him, the ones that have a strong stake in their interests and help the fall guy forward.
he doesnt care one bit
Lol
Well he won't be in office much longer. So just another lie he told, it will be a great day when he is not in the white house.
I doubt whether the debt will ever be eliminated.
The GOP has never cared about the debt.
Yea... but those Billionaires need their cut!!!!