Republican or Democrat, elephant or Democrat. No matter who is in charge, the U.S. government just racks up the credit card and sends the bill to your grandchildren. That’s life in the swamp.
Is President Donald Trump any different? Nope, but at least he never promised to be a fiscal conservative who wanted to rein in federal spending and the national debt.
That said, the national debt is poised to rise this year at the fastest pace since 2012. Since the beginning of 2018, total public debt has surged by $1.36 trillion – the number rises to $1.9 trillion since President Trump took office.
This suggests that it would be the biggest percentage increase since the last year of former President Barack Obama’s final term in office.
It’s not really surprising considering that the budget deficit expanded at an estimated $779 billion Trump’s first full fiscal year, the biggest gap in six years.
The estimates show that the debt will have jumped by $4.4 trillion by the end of the president’s first term.
In total, the national debt stands at an all-time high of $21.9 trillion.
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