Another Trump Economic Miracle: US Debt Over Past 2 Months Decreased by More Than $30 Billion!
Guest post by Joe Hoft
It’s another Trump economic miracle! The US debt over the past two months has actually gone down. Looks like the Trump tax cuts actually decreased the US debt after all.
Fortune, USA Today, the Brookings Institute and all the liberal MSM outlets and all the far left politicians said that the Trump tax cuts were selfish and going to increase the amount of US debt. Today we see that they were all wrong….again.
According to the amount of US Debt recorded daily at the US Treasury website the amount of US debt outstanding on April 2nd, 2018 was $21,119,428,167,134. On June 1st, 2018, the amount of US debt had decreased to $21,083,101,841,091. The amount of US debt outstanding decreased by over $36 billion over the past two months.
President Trump has managed to reduce the amount of US debt in spite of the increased interest rates on the Federal debt initiated by the Fed since his election. The Fed has increased rates more than 1% since the 2016 election which on $20 trillion of debt amounts to additional interest payments of $200 billion. In spite of this, the amount of US debt has decreased over the past couple months.
President Trump’s economy is on fire. It is working and Americans are working too. Now even the debt burden on Americans is being reduced as well.