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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BING NEWS:
  • Trump's big tax-cut plans could be slowed by a wary bond market
    The $28 trillion Treasury debt market is flashing a red warning light against adding excessively to a massive debt load.
    11/25/2024 - 5:13 am | View Link
  • Rising price of paying national debt a risk for Trump's promises on growth, inflation
    People in Trump's orbit, as well as Republican lawmakers, are already scouting out ways to reduce government spending in order to minimize the debt and bring down interest rates. They have attacked ...
    11/23/2024 - 6:41 pm | View Link
  • The National Debt Just Hit $36 Trillion. Does Trump Have a Plan To Control It?
    In last week's elections, Americans rejected the status quo in the federal government and asked Republicans to once again take the reins. On Friday, the Treasury Department issued another reminder ...
    11/15/2024 - 8:30 am | View Link
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