Donald Trump recently tweeted “The media has not reported that the National Debt in my first month went down by $12 billion vs a $200 billion increase in Obama first mo.”
It’s true that the debt has decreased by $12 billion, but let’s be real; it’s not due to Trump at all. He hasn’t created any fiscal legislation since he’s been in office. The national debt can fluctuate as much as +/- $12 billion at any given time due to every day commerce and economic flow. Plus, the federal government is still operating on the Obama administration’s budget plan.
Politifact posted the following:
“Considering that Trump hasn’t enacted any fiscal legislation, it’s a bit of a stretch for him to take credit for any changes in debt levels,” Dan Mitchell, a libertarian economist and senior fellow at the Cato Institute, told us.
“Debt levels go up and down in the short run based on independent factors such as quarterly tax payments and predetermined expenditure patterns,” he said.
Dean Baker, an economist with the liberal Center for Economic and Policy Research, said the temporary dip in the debt is triggered by the timing of tax payments and government spending, “both matters that he has not affected one iota.”
Hopefully he can decrease the national debt, though it’s not likely. We’ll just have to see.
Here are some additional articles on the topic: