Oh, and then Trump/GOP slashed taxes again, increasing our annual deficits from the $500b Obama got them down to to way over $1t a year again.
Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It'll Weigh Down the Economy for Years
The "King of Debt" promised to reduce the national debt " then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president.
The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by a leading Washington budget maven, Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center. And unlike George W. Bush and Abraham Lincoln, who oversaw the larger relative increases in deficits, Trump did not launch two foreign conflicts or have to pay for a civil war.
Falling deeper into the red is the opposite of what Trump, the self-styled "King of Debt," said would happen if he became president. In a March 31, 2016, interview with Bob Woodward and Robert Costa of The Washington Post, Trump said he could pay down the national debt, then about $19 trillion, "over a period of eight years" by renegotiating trade deals and spurring economic growth.