Comment on How America’s $36 trillion in national debt could rain on Trump’s bold plans for the U.S economy

How America’s $36 trillion in national debt could rain on Trump’s bold plans for the U.S economy

Trump’s team insists he can make the math work. Donald Trump has big plans for the economy — and a big debt problem that will be a hurdle to delivering on them.Trump has bold ideas on tax cuts, tariffs and other programs, but high interest rates and the price of repaying the federal government’s existing debt could limit what he’s able to do.Not only is the federal debt at roughly $36 trillion, but the spike in inflation after the coronavirus pandemic has pushed up the government’s borrowing costs such that debt service next year will easily exceed spending on national security.The higher cost of servicing the debt gives Trump less room to maneuver with the federal budget as he seeks income tax cuts.

 

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