- Feb 4, 2009
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I remember him saying that he would eliminate the debt in 4-8 years, likely 8 years
https://www.washingtonpost.com/news...t-years/?noredirect=on&utm_term=.26f3069e38c8
Two years in and here are the results:
https://www.cnn.com/2019/01/03/politics/trump-us-national-debt/index.html
Admittedly it hasn’t been 4 years however I see no reason why it will plunge. Also I’m not a deficit hawk but I will say cutting taxes when the economy is growing sounds pretty dumb
The President missed the 2 trillion per year reduction AND added an additional 2 trillion to the debt.
Donald Trump: “We’ve got to get rid of the $19 trillion in debt.”
Bob Woodward: “How long would that take?”
Trump: “I think I could do it fairly quickly, because of the fact the numbers…”
Woodward: “What’s fairly quickly?”
Trump: “Well, I would say over a period of eight years. And I’ll tell you why.”
Woodward: “Would you ever be open to tax increases as part of that, to solve the problem?”
Trump: “I don’t think I’ll need to. The power is trade. Our deals are so bad.”
Woodward: “That would be $2 trillion a year.”
Trump: “No, but I’m renegotiating all of our deals, Bob. The big trade deals that we’re doing so badly on. With China, $505 billion this year in trade. We’re losing with everybody.”
https://www.washingtonpost.com/news...t-years/?noredirect=on&utm_term=.26f3069e38c8
Two years in and here are the results:
The national debt has been rising at an accelerated rate in the aftermath of the 2008 financial crisis, when Congress and the Obama administration approved stimulus funding in order to keep the economy afloat.
The debt began to level off at the beginning of Trump's term, but bounced up again last year as the tax cuts passed at the end of 2017 took effect and the dramatically lower corporate tax rate lowered Treasury revenues.
https://www.cnn.com/2019/01/03/politics/trump-us-national-debt/index.html
Admittedly it hasn’t been 4 years however I see no reason why it will plunge. Also I’m not a deficit hawk but I will say cutting taxes when the economy is growing sounds pretty dumb
The President missed the 2 trillion per year reduction AND added an additional 2 trillion to the debt.
