US federal debt clicked over US$25.95 trillion last week, $6 trillion higher than when Donald Trump was inaugurated. This sits atop a mountain of evidence confirming Team Trump’s economic management has been the worst since the Great Depression.
The trajectory towards “worst ever” was set well before the COVID-19 virus
devastated the world. Deterioration was evident soon after Trump’s tax cuts took effect in early 2018. This has been masked by an extraordinarily successful campaign of mendacious tweets claiming the economy is “best ever” and “world’s greatest”. This is one mask the POTUS uses effectively.
Record debt added
The $6 trillion added to the debt comes to US$1774 billion a year. That is more than double the rate of Barack Obama’s second term after the global financial crisis, nearly four times that of George W Bush’s first term, and more than six times Bill Clinton’s first term debt rate.