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The national debt was up to $80,885 per person as of 2020. [153] The national debt equated to $59,143 per person U.S. population, or $159,759 per member of the U.S. working taxpayers, back in March 2016. [154] In 2008, $242 billion was spent on interest payments servicing the debt, out of a total tax revenue of $2.5 trillion, or 9.6%. Including ...
Trump dodged questions about the debt while campaigning and does not have a plan to cut spending, even though he's promised lots of tax cuts (a recipe for higher deficits and more borrowing).
The fiscal policies of the Trump administration added twice the amount to the national deficit as have President Biden’s, a new analysis has found. Trump’s administration borrowed $8.4 ...
The U.S. government will pay close to $900 billion this year just in interest payments on the national debt. ... .9%); Donald Trump to 31.3% (during the ... 12 years under Presidents Ronald Reagan ...
Under Trump, the U.S. national debt increased by 39%, reaching $27.75 trillion by the end of his term; the U.S. debt-to-GDP ratio also hit a post-World War II high. [ 18 ] Analysts argued that there is little evidence that either the economy or employment was impacted in the first 2.5 years of his term despite the Tax Cuts and Jobs Act (TCJA ...
The national debt stood at $35 trillion as of July 2024. Under both Trump and Harris, it's projected to rise faster than the American economy, according to the CRFB report.
When Trump was last in the White House in 2020, the federal government was spending $345 billion annually to service the national debt. It was possible to run up the national debt with tax cuts ...
Trump said, "We've got to get rid of the $19 trillion in debt." But not one of them did anything about it. Now they lie about it. President Joe Biden said, "We literally cut the federal debt in half."