Trump’s Debt Increases Put Obama to Shame and Most New Debt is Due to Yellen’s Increased Interest Rates
Guest post by Joe Hoft
Although President Trump held the longest and largest decrease of US Federal Debt in US history at $100 Billion, it is now over.
When President Trump was inaugurated on January 20, 2017 the amount of US Federal Debt owed both externally and internally was over $19 Trillion at $19,947,304,555,212. As of September 1st the amount of US Debt had decreased by more than $100 Billion but today the amount of US Debt increase since his election is over $20 Trillion. President Trump has now increased the US Debt by $486 billion or a little more than 2%.
What the mainstream media (MSM) is not telling you is President Trump’s efforts to minimize the US Debt are hindered by the fact that the debt was twice the size of the US debt when Obama took office, which results in twice the amount of interest on the debt payable each month. This amount is in the billions. Also, Obama benefited from lower interest rates. During the majority of Obama’s term the US Federal Reserve kept interest rates at near zero. Since President Trump was elected the ‘Fed’ has increased rates three times. These increased rates on an increased debt account for most of the debt increase since January.
Also, what the MSM will not tell you is that President Obama increased the US debt by more that $1.33 Trillion at this time during his Presidency. When Obama was inaugurated the US Debt stood at $10.6 Trillion. By October 20th, 2009, President Obama had increased the US Debt to more than $11.9 Trillion. This was an increase of $1.33 Trillion or 12.5%.
The difference between Presidents Trump and Obama is that President Obama increased the US Debt by $844 Billion or nearly $1 Trillion more than President Trump during their respective first nine months in office.