Trump added more to the national debt in four years than Obama and Bush did in eight
. When accounting for non-legislative budget savings, the total projected budget deficits expanded by $3.9 trillion over the decade., “Trump’s Fiscal Legacy: A Comprehensive Overview of Spending, Taxes, and Deficits” which analyzes Congressional Budget Office data., and then measures all subsequent changes to those ten-year estimates that occurred during his presidency.
Reducing deficits from the $10 trillion projection should have been easy. During Trump’s presidency, faster-than-expected economic growth raised the ten-year revenue projections by $1.3 trillion, and lower-than-expected interest rates shaved the ten-year interest cost projections by $2.6 trillion. That’s $3.9 trillion in automatic budget savings without lifting a finger.
From a fiscal responsibility point of view, President Trump’s record compares poorly to his predecessors. Of course, President Trump owns the 2017 tax cuts, tariffs, and ACA individual mandate reforms. Overall, the $7.8 trillion in new initiatives resulted from $1.3 trillion in purely Republican policies, and $6.5 trillion in bipartisan legislation.
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