White House’s Kudlow: $22.5 trillion debt is not ‘a huge problem’
What about $23 Trillion?
NATIONAL DEBT INCREASED BY $3 TRILLION DURING DONALD TRUMP’S THREE YEARS AS PRESIDENT
“On Tuesday, attorney George Conway, a frequent Trump critic and husband of White House Special Counsel Kellyanne Conway, pointed out that three years into Trump’s first term as president, the national debt increased by $3 trillion, bringing it to over $23 trillion now. Conway cited figures from the National Debt Tweets in his tweet.”
https://www.newsweek.com/donald-trump-national-debt-increase-3-trillion-first-three-years-presidency-1483660
US debt surpasses $23 trillion for first time
Federal deficit sees 12% increase in two months, topping $342 billion
DONALD TRUMP PROMISED TO ELIMINATE THE DEFICIT IN 8 YEARS. SO FAR, HE HAS INCREASED IT BY 68%
U.S. government’s annual budget deficit largest since 2012
The 2016 GOP Platform promised to cut the debt AND Enact a Balanced Budget Act
2016 GOP Platform
“Reducing the Federal Debt Our national debt is a burden on our economy and families. The huge increase in the national debt demanded by and incurred during the current Administration has placed a significant burden on future generations. We must impose firm caps on future debt, accelerate the repayment of the trillions we now owe in order to reaffirm our principles of responsible and limited government, and remove the burdens we are placing on future generations.
Balancing the Budget The federal fiscal burden threatens the security, liberty, and independence of our nation. The current Administration’s refusal to work with Republicans took our national debt from $10 trillion to nearly $19 trillion today. Left unchecked, it will hit $30 trillion by 2026. At the same time, the Administration’s policies systematically crippled economic growth and job creation, driving up government costs and driving down revenues. When Congressional Republicans tried to reverse course, the Administration manufactured fiscal crises — phony government shutdowns — to demand excessive spending. The Administration’s demands have focused on significantly expanding government spending and benefits for its preferred groups, paid for through loans that our children and grandchildren will have to pay. This is the path to bankrupting the next generation.
The Republican path to fiscal sanity and economic expansion begins with a constitutional requirement for a federal balanced budget. We will fight for Congress to adopt, and for the states to ratify, a Balanced Budget Amendment which imposes a cap limiting spending to the appropriate historical average percentage of our nation’s gross domestic product while requiring a super-majority for any tax increase, with exceptions only for war or legitimate emergencies. Only a constitutional safeguard such as this can prevent deficits from mounting to government default.
Republican budgets will prioritize thrift over extravagance and put taxpayers first. We support the following test: Is a particular expenditure within the constitutional scope of the federal government? If not, stop it. Has it been effective in the past and is it still absolutely necessary? If not, end it. Is it so important as to justify borrowing, especially foreign borrowing, to fund it? If not, kill it.”
