President Trump has only been in office for around six months, and already his policies are having a major effect on our national debt.
For those unaware, the previous White House squatter more than doubled the debt accrued over the entire existence of our nation in just eight short years, bringing it to nearly $20 trillion. Thanks to out of control spending and grand Democrat giveaways, the previous administration was racking up debt faster than a McMillionaire trying to keep up with the Jones’s in an expensive country club community, which is one of the many reasons President Trump won the election – people realized something needed to be done about the debt.
In April, the President proposed a budget that would tackle the debt and pay it off in a few decades.
“Under this plan, the debt will continue to fall both in nominal dollars and as a share of GDP beyond that point, putting us on a path to repay the debt in full within a few decades,” the budget plan said.
Now, just six months into his first term, the national debt has gone down by over $100 billion, the U.S. Treasury’s direct record shows.
When President Trump took office in January, the debt was at $19,947,304,555,212.49.
On July 30, it was down to $19,844,938,940,351.37, a difference of $102,365,614,861.12.
During his State of the Union Address, the President said “Faster economic growth, coupled with fiscal restraint, will enable us to fully fund our national priorities, balance our budget, and start to pay down our national debt.”
It appears as if that’s exactly what’s happening.