Trump’s legacy: $8 trillion-plus in added debt in one term
by Jay Heflin, Business Editor |
| December 31, 2020 06:30 AM
President Trump promised in the 2016 campaign to eliminate the federal debt over a two-term presidency. That pledge won't come to fruition, and, in fact, he will leave office having added massively to the debt.
“His tenure has been marked by a total disregard for any concern about mounting debt,†said Jim Capretta, a resident fellow at the American Enterprise Institute, a right-leaning think tank in Washington, D.C.
When Trump was inaugurated on Jan. 20, 2017, the total national debt was nearly $20 trillion, according to the Treasury Department. It has increased over roughly 30% since, nearly $8 trillion, to $27 trillion, as of Monday.
For comparison, President Barack Obama added roughly $9 trillion to the national debt during his eight years in office, according to the Treasury
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