The tax cuts spurred the greatest economy that we've ever seen just prior to COVID. The country was going like never before. And we were ready to start paying down debt.
- Donald Trump
During President Trump's tenure in office the national debt exploded - adding 40 percent to the total outstanding debt. Nevertheless, if you read the reporting in the link there is nuance to this picture.
The national debt ballooned at a faster clip under Trump. This was driven by two things:
- The Trump tax cuts increased the annual operating deficit to $1 trillion in 2019; up from $680 billion in 2017.
- Pandemic spending under Trump increased the the national debt to $27.7 trillion; up from $19.8 trillion.
At no point during the Trump occupancy of the White House was the government ever in a position to pay down the debt. He's lying.
Deficit spending on this scale by any administration is unsustainable.
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