you know that President Trump entered the White House with the highest
national debt as a share of the economy than any President other than
Harry Truman in 1945?
That’s just one indication that President Trump faces a serious debt
situation that requires action. Our partners at the Committee for a
Responsible Federal Budget assessed the state of play in a new study out
today. Here are a few more key points to note:
Unlike the debt under President Truman, which began to fall rapidly
shortly after World War II ended, debt is projected to rise continuously
during Trump’s time in office and beyond.
Federal entitlement programs and interest currently represent a larger
share of the budget than under any previous President, leaving
relatively less room for defense and non-defense discretionary spending.
If in office for two terms, President Trump could face the insolvency
of three major trust funds, and an additional one – the Social Security
Old-Age and Survivors Insurance trust fund – soon after.
Read the full paper.
There’s no question the debt situation is bad and it will only get
worse unless something is done. This is a time for leadership to fix the
Campaign to Fix the Debt
P.S. Want more research and analysis like this? ...to get regular updates from the Committee for a Responsible Federal Budget.