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When Donald Trump first ran for president, he campaigned to reduce national debt, calling himself the “debt king” at the time, and tell voters that he would pay the country’s few dollars in debt over eight years.
“I’m the king of debt. I’m in debt, and it’s great that I have debt. No one knows more about debt than I do,” Trump said in an interview with CBS’s Nora O’Donnell leading up to the 2016 election. “I used my debt to make a lot of money. If things don’t work, I renegotiate my debt. So it’s smart, not stupid.”
“We need to get rid of our $19 trillion in debt,” Trump said in a campaign path in an interview with the Washington Post several months ago. When asked how long it would take, Trump replied: “I’ll say for eight years… Power is trade. Our trade is very bad.”
The Senate will weigh Trump’s “big and beautiful bill” as policy groups support the CBO, projecting a $3 trillion debt increase
When Donald Trump first ran for president, he campaigned to reduce national debt, calling himself the “debt king” at the time, and tell voters that he would pay the country’s few dollars in debt over eight years. (Getty Images/Donald J. Trump)
The country’s constant debt will once again become a focus for Trump. GOP exiles over his “big beautiful bill” are primarily concerned about the debate that the new Republican spending package is rising too much in national debt and deficit, with the Congressional Budget Office estimated to add about $3 in the next decade.
The debt is currently at over $36.2 trillion, according to Fox Business’s US national debt tracker.
Elon Musk, who has recently stanced over Trump’s spending packages that lead to a highly publicized feud between the two leaders he spent, has argued that Bill doesn’t cut spending enough, “weakening” the work he did while leading the Trump administration’s government efficiency (DOGE).
“This enormous level of overexpenditure will lead America to debt slavery!” Musk declared in an X post early Wednesday, shortly after calling the bill “nasty and hateful.”
In this December 2024 photo, two women pass a bus stop with a national debt clock sign display showing the respective debts of the US total debt and Washington, DC debt (Robert Schmidt/AFP by Getty Images)
Trump’s “big beautiful bill” needs “fat shots” to end our dangerous debt addiction
Shortly afterwards, Musk referenced an X-post from GOP Utah Senator Mike Lee. This alleged that “currently, the unpaid interest on citizen debt is over $1 trillion per year.” This is more than the country spends its annual defense, Lee’s post added. “Even so, Congress continues to add to its debt at an incredible rate of $2 trillion a year by growing faster than our economy.”
In another X-Post from Musk, he briefly described the US $36.2 trillion debt as “scary” until he feuded with Trump this week.
Even before the highly publicized feud between Musk and Trump over the controversial GOP spending package, Musk calls the rising national debt “terrifying” and mourns “America is effectively heading for bankruptcy.”
Representative Thomas Massey, a Kentucky Republican, wore a homemade national debt pin on Capitol Hill, Washington, D.C., on Thursday, January 26th, 2023. (Ting Shen/Bloomberg via Getty Images)
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“President Trump is the first president in modern history to seriously address our bloated government waste, fraud and abuse. He has already pruned billions of dollars in surprisingly heartless government spending across the administration, and now he is leading one big beautiful bill that will be the biggest shortage reduction in decades.”
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