Many people don’t call President Trump the Tea Party President for nothing. For the first time in our lifetime President Trump’s fiscal policies, targeting growth in the economy, actually have the cumulative effect of lowering the national debt as measured by the U.S. Treasury. –SEE DATA HERE–
When President Trump took office January 20th the total national debt was $19,947,304,555,212, or nearly $20 trillion. While there are fluctuating cycles of increase and decrease the debt reached a high of $19,959,593,604,841 on February 28, 2017, stalled, and since March 14th 2017 continually dropped:
Total U.S. National Debt has now decreased by over $100 billion. *Note: That’s five times more than is needed to build the Southern Security and Border Wall.
And yes, this decrease is real and represents a long term reversal. During same 6 months in 2016 the U.S. National Debt grew by $450 billion (from $18,941,406,899,252.15 -to- $19,391,704,027,667.12). [DATA HERE] The Trump trend is not connected to a temporary lowering of debt during tax collection season. The ACTUAL ‘federal’ debt clock is now running backwards.
By instituting common sense “Main Street” economic policies of: pro business, pro investment, pro manufacturing, expanded jobs growth, lowered regulation, enhanced energy development, enlarged exports and reductions in actual federal spending, President Trump has reversed the debt clock and eliminated $100 billion in debt.
This is, yet again, affirmation of what can happen by shifting policy from focusing on Wall Street’s economic engine and emphasizing Main Street’s economic engine.
By growing the economy and creating jobs the benefits are two-fold. More workers equals more taxpayers paying into the system; simultaneously more people working means less people in need of government subsidies. You gain a dollar and have no need to spend a dollar, the federal balance sheet impact is doubled.
You might remember the second quarter GDP rate of growth also doubled the first quarter rising from 1.2% to 2.6%. Trump’s goal was 3% for 2017. Additionally, the stunning thing is President Trump is achieving these objectives DESPITE a congress that is dysfunctional and not supporting his pro-growth economic agenda.
Imagine what could happen if Washington DC actually got on the same page and agreed to get rid of the economic choking ObamaCare and delivered on pro-growth tax reform?
President Trump has decoupled the fiscal drags on the economy, he needs help from congress on decoupling the legislative drag known as ObamaCare.
Every economic pundit said Trump could never get 3% GDP growth. Heck, if Washington DC would just support the Trump-Mnuchin-Ross-Mulvaney agenda the economy might get higher than 4 or 5 percent.