‘Starve the beast’? The $40tn cost of Republicans’ false promises to cut spending
The enormous US debt under Trump will hobble the next Democratic administration – just as the GOP plannedYou could pin the US’s staggering $40tn in government debt to Donald Trump’s Keystone Cops-style governance. Tariffs he sold as a new source of revenue were struck down by the supreme court, forcing the government to return tens of billions of dollars to importers.
Reported by 1 outlet — The Guardian US. See all sources ↓
The enormous US debt under Trump will hobble the next Democratic administration – just as the GOP plannedYou could pin the US’s staggering $40tn in government debt to Donald Trump’s Keystone Cops-style governance. Tariffs he sold as a new source of revenue were struck down by the supreme court, forcing the government to return tens of billions of dollars to importers. Elon Musk’s “department of government efficiency” (Doge), ostensibly created to stop wasteful government spending, decimated federal programs and likely killed millions of children, but did nothing to close the budget deficit. The burst of inflation following Trump’s misguided adventure in Iran sharply raised the cost of serving the government’s obligations.Yet as the federal debt hits an all-time high, up from about $35tn when Trump took office less than two years ago, it is worth noting that the US’s gargantuan indebtedness is in fact the product of a longstanding Republican strategy that took shape well before Trump could even dream about gold-plating the White House.
Read the full report at The Guardian US ↗
Why it matters
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- What's the story?
- The enormous US debt under Trump will hobble the next Democratic administration – just as the GOP plannedYou could pin the US’s staggering $40tn in government debt to Donald Trump’s Keystone Cops-style governance. Tariffs he sold as a new source of revenue were struck down by the supreme court, forcing the government to return tens of billions of dollars to importers.
- How widely is it covered?
- 1 outlet, average source rating 8.0/10.
- When was it last updated?
- 6m ago.
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‘Starve the beast’? The $40tn cost of Republicans’ false promises to cut spending
Sources1TypeCoverageThe Guardian US