Trump's Debt Elimination Promise Unfulfilled as US National Debt Nears $50 Trillion
This analysis examines Donald Trump's 2016 campaign promise to eliminate the $19 trillion US national debt within eight years. A decade later, the debt has nearly doubled to $39 trillion and is approaching $50 trillion. The article details the debt trajectory since 2020, noting a $16 trillion increase. It highlights the compounding effect of higher interest rates (10-year Treasury at 4.57%, 30-year at 5.09%) compared to near-zero rates in 2020, which adds hundreds of billions in annual carrying costs. The personal savings rate has dropped from 6.2% to 3.9%, while Social Security, Medicare, and Medicaid are financed at 4-5% rates. The analysis warns the debt will likely cross $50 trillion before 2030 and advises monitoring Treasury's quarterly refunding announcements and weighted-average interest rates.
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