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Politics => The Trump Administration => Topic started by: Pepsi on February 25, 2020, 01:24:10 PM

Title: Trump "promised" to eliminate the debt in 8 years
Post by: Pepsi on February 25, 2020, 01:24:10 PM
"I will eliminate U.S. debt in 8 years" ~Trump 2016 (https://thehill.com/blogs/ballot-box/presidential-races/275003-trump-i-will-eliminate-us-debt-in-8-years)

Is he on track?

The US posted a $234 billion budget deficit last month, the biggest one-month deficit in history

The US posted a record budget deficit in the month of February, according to a new report form the Treasury Department.

The budget deficit for February came in at $234 billion, according to the Treasury, higher than the previous monthly record of $231.7 billion set in 2012. The deficit was also 8.7% higher than the $215.2 billion deficit posted in February 2018.

The budget deficit measures the shortfall of government revenues compared to what the government spends. Recent legislative changes have driven the deficit up to its highest levels since the financial crisis.

The deficit for the first five months of the government's 2019 fiscal year, which runs from October 2018 through October 2019, hit $544.2 billion — up 40% from the first five months of fiscal year 2018.

https://www.businessinsider.com/us-budget-deficit-hits-record-february-national-debt-2019-3?fbclid=IwAR0v2RfWBjP7v6CZwyXYF21Oci5l_BmfZBVglKTorHi-IMUDwTZPpLDAUFA (https://www.businessinsider.com/us-budget-deficit-hits-record-february-national-debt-2019-3?fbclid=IwAR0v2RfWBjP7v6CZwyXYF21Oci5l_BmfZBVglKTorHi-IMUDwTZPpLDAUFA)
Title: Re: Trump "promised" to eliminate the debt in 8 years
Post by: hurricanehook on February 25, 2020, 06:39:02 PM
The U.S. needs to stop spending more
money than we take in.
Balancing the budget should be a high
priority, however, politicians don't want to give
up their pet programs.