Ten years ago, US President Donald Trump promised he would pay off the national debt within just eight years.
“We’re not a rich country. We’re a debtor nation,” he proclaimed during his 2016 election campaign.
“We’ve got to get rid of the $19 trillion in debt … Fairly quickly.”
He then offered a timeline.
“I would say over a period of eight years.”
Things didn’t pan out so well.
The Covid pandemic was an unexpected setback. And the $2 trillion in cuts for big-earning corporations and individuals didn’t help. Nor did a tariff trade war with China.
But President Trump returned in 2025 with greater expectations.
He appointed tech-bro Elon Musk to head a new Department of Government Efficiency (DOGE) on the promise of $US180…