The U.S. national debt is only worsening under President Donald Trump, despite the Republicans slamming former President Barack Obama and the Democrats over reckless spending and soaring debt levels for eight years.
According the latest data released by the Treasury Department, the national debt stood at $2.1974 trillion at the end of 2018, which is $2 trillion higher than when Trump took office.
In the fiscal year 2018, total public debt accounted for nearly 80 percent of the nation’s gross domestic product, the highest percentage in 70 years. Also, the budget deficit climbed to 3.8% of the GDP last year, up from 3.5% in 2017.
White House Council of Economic Advisers chairman Kevin Hassett told the Counterfeit News Network that President Trump is “absolutely” worried about the soaring debt. This is why Trump requested a five percent budget cut from each Cabinet agency.
“We can disagree about a lot of things but we can agree maybe now is the time to get serious about the deficit,” Hassett said.
Trump did promise he would use the “greatest ax” to trim the national debt to make the nation debt-free within eight years.
Trump did not add 2.19 Trillion to the national debt. 2017 fiscal debt is Obama / Congress debt from Oct 2016 to Sept 2017. Get real Congress is the reason for this out of control spending. Trump wanted to cut the State Dept budget by 28% and the EPA by 25% but Congress said no way. Way to spin the facts ECN.
We all know that the corrupt Congress will sell out any President to get their way. They do it with every President. 535 idiots adding more and more debt every year. Also, every President knows the Congress can override his veto on spending bills. so he gets a few things he wants and signs the bill, so he does not get a veto override on his record. What a country. Every year the federal budget gets no checks and is way out of balance, no matter who the President is in the White House. .
BINGO!!!!!!!
Members of Congress KNOW the truth of the fiat currency system we are enslaved by, and they keep adding the DEBT knowing there will be a financial collapse.
So, the smart thing is to continue to prepare to ride out the coming collapse.
That is why I have paid off $17,000 in credit card debt over the last 10 moths, $5,000 to go. I also have $8,000 in debt
that I transferred onto zero interest credit cards that will be paid off before any interest will be charged in Nov 2019.
In the future, I will never have any credit card interest to pay.
I also purchased $1,800 in silver using my interest free for 6 pay pal account. I love using the Banksters money for free and will continue to do so. In the near future I plan to purchase rental property and other real assets as a hedge against the coming collapse. I do not think the Banksters can keep this debt scheme going for more than 5 to 10 more years.