Gov’t Watchdog: Trump Added $4.7 Trillion To Nat'l Debt With First Term Bills
President Donald Trump has signed legislation during his first term that will add $4.7 trillion to the national debt by 2029, according to a government watchdog group.
The Committee for a Responsible Federal Budget said four bills in particular added to the debt, citing the 2017 tax cuts — which the group said will contribute $1.8 trillion to the debt by the end of 2029 — and the bipartisan spending package for 2019, which will tack on another $1.7 trillion.
“The final set of appropriations bills that Congress approved in December added another $500 billion,” The Hill noted, “mostly through the repeal of three taxes that were meant to pay for the Affordable Care Act.”
The group cautioned that “debt is rising on an unsustainable path,” adding in its report: “Thanks to legislation passed since 2017, the nation is facing trillion-dollar annual deficits for the foreseeable future without action is almost certain to surpass the record debt levels set after World War II in the coming years.”
Though President Donald Trump campaigned in 2016 on reducing the national debt, it has grown by about $3 trillion since he took office.