In 2016, Trump pledged to erase the federal debt. It just hit $40tn
The trillions in tax cuts going to the rich and corporations could have instead been used to address the affordability crisis
TL;DR
- The national debt has climbed to over $40tn under Donald Trump, contradicting his 2016 pledge to eliminate it.
- Tax cuts enacted under Trump are projected to increase the national debt by $3.4tn over the next decade, with nearly half going to the richest 5% of Americans.
- The increased debt and tax cuts have contributed to rising long-term interest rates, making housing less affordable.
- Republicans, once advocating fiscal responsibility, are now criticized for fiscal irresponsibility due to large tax cuts and increased spending.
- Democrats are encouraged to campaign on the issue of the national debt, linking it to the affordability crisis and Trump's foreign policy decisions.