https://en.sputniknews.africa/20240820/trump-says-us-to-pay-off-over-35-trillion-in-national-debt-under-his-leadership-1067927005.html
Trump Says US to Pay Off Over $35 Trillion in National Debt Under His Leadership
Trump Says US to Pay Off Over $35 Trillion in National Debt Under His Leadership
Sputnik Africa
WASHINGTON (Sputnik) – Former US President and Republican candidate Donald Trump said on Monday that under his leadership, the United States will be able to... 20.08.2024, Sputnik Africa
2024-08-20T09:43+0200
2024-08-20T09:43+0200
2024-08-20T10:57+0200
international
donald trump
joe biden
united states (us)
debt
us dollar
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presidential election
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According to data from the US Treasury Department, the US budget deficit during the presidency of Joe Biden has hit an all-time high of $6.6 trillion. Trump added that he would use oil to reduce the deficit, pay off the record debt, and cut taxes. The United States has been in a state of chronic excess of expenditures over income for almost a century; the last time there was a long period of surplus was from 1920 to 1930. The only US leader after World War II with a budget surplus was Harry Truman (1946-1950), and the largest government spending surplus was under Ronald Reagan at $1.34 trillion. The US finances such a gigantic budget deficit from the national debt, which in July for the first time exceeded the $35 trillion mark, and just two weeks later grew by another $160 billion.
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international, donald trump, joe biden, united states (us), debt, us dollar, finance, presidential election, elections, economy
international, donald trump, joe biden, united states (us), debt, us dollar, finance, presidential election, elections, economy
Trump Says US to Pay Off Over $35 Trillion in National Debt Under His Leadership
09:43 20.08.2024 (Updated: 10:57 20.08.2024) WASHINGTON (Sputnik) – Former US President and Republican candidate Donald Trump said on Monday that under his leadership, the United States will be able to pay off its huge national debt, amounting to more than $35 trillion.
According to data from the US Treasury Department, the US budget deficit during the presidency of
Joe Biden has hit an all-time high of $6.6 trillion.
"We're going to pay off the debt of our country because this country owes $35 trillion, but that rapidly can come down," Trump said in his remarks during a campaign event in York, Pennsylvania.
Trump added that he would use oil to reduce the deficit, pay off the record
debt, and cut taxes.
The United States has been in a state of chronic excess of expenditures over income for almost a century; the last time there was a long period of surplus was from 1920 to 1930. The only US leader after World War II with a budget surplus was Harry Truman (1946-1950), and the largest government spending surplus was under Ronald Reagan at $1.34 trillion. The US finances such a gigantic
budget deficit from the national debt, which in July for the first time exceeded the $35 trillion mark, and just two weeks later grew by another $160 billion.
