The U.S. is $3 trillion more in debt than it was when Mr. Trump entered the White House. In nearly three years, it rose 15% — from $19.9 trillion to $22.9 trillion, according to the latest numbers from the Treasury Department.
But Mr. Trump, a Republican, can claim a small victory: The nation's debt has risen at a slower pace under him than under recent presidents.
The federal deficit has also been growing, recently hitting its highest point in seven years. When the government spends more each year than it receives in tax revenue, it has to borrow, which adds to the national debt.
The federal deficit is $984.4 billion — up 26% from $779 billion in 2018 — and is widely expected to exceed $1 trillion this year. The increase is largely attributed to the $1.5 trillion tax cuts that Mr. Trump signed in 2017. They have so far resulted in revenue losses at a time of spending growth.
Source:
https://www.cbsnews.com/news/trump-promised-to-eliminate-the-national-debt-it-has-risen-by-3-trillion/
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