US EditionCan Trump fix the national debt? Republican senators, many investors and even Elon Musk have doubts
- President Donald Trump faces skepticism from Republican senators, global investors, voters, and Elon Musk over his multitrillion-dollar tax breaks package passed by the House last month.
- This skepticism stems from concerns that the proposed tax and spending reductions could increase the national debt by over $5 trillion within the next ten years, with differing opinions on the extent to which economic growth might counterbalance these deficits.
- The national debt has exceeded $36.1 trillion, with yields on 10-year Treasury notes climbing to approximately 4.5%. Meanwhile, the administration's economic advisors predict stronger growth over the next four years—around 3.2% annually—surpassing the Congressional Budget Office’s forecast of 1.9%.
- Critics including economists and senators warn growth alone will not reduce deficits and expect higher debt to sustain elevated interest rates, while the administration credits tariff revenues and growth to manage deficits.
- The unresolved deficit issue is causing political backlash, with some senators threatening to block legislation until serious spending reductions occur, while Trump continues to seek votes to enact his fiscal agenda.
151 Articles
151 Articles
Trump is not someone else’s problem - Philadelphia Gay News
Is it possible for someone to gaslight himself? Beyond Donald Trump’s fanatical base, how many people seriously believe genocide against white South Africans is occurring? How many believe accepting a Boeing aircraft from Qatar does not violate the Constitution’s Emoluments clause? How many believe Harvard is ‘coordinating’ in some nefarious way with China? Trump apparently thinks he can win as long as he is never embarrassed. After repeatedly i…
Trump says he’ll fix the debt, but even his allies aren’t convinced
President Donald Trump faces the challenge of convincing Republican senators, global investors, voters, and even Elon Musk that he won’t bury the federal government in debt with his multitrillion-dollar tax breaks package. The response so far from financial markets has been skeptical as Trump seems unable to trim deficits as promised. “All of this rhetoric about cutting trillions of dollars of spending has come to nothing—and the tax bill codifi…
Idaho Press
The Latest: Trump’s pledge to fix national debt faces skepticism from some Republicans
President Donald Trump faces the challenge of convincing Republican senators, global investors, voters and even Elon Musk that he won’t bury the federal government in debt with his multitrillion-dollar tax-break package. Financial markets have remained skeptical, as the deficit continues…
President Donald Trump faces the challenge of convincing Republican senators, global investors, voters, and even Elon Musk that he will not sink the federal government into debt with his multi-million-dollar package of tax exemptions. So far, the response from financial markets has been skeptical, as Trump seems unable to cut deficits as he promised. “All this rhetoric about cutting billions of dollars in spending has been in vain, and fiscal re…
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