Thanks to the Trump/Republican tax cuts, the national debt is now increasing at the fastest pace in American history (details here). That means by this date next year, the national debt will have increased by at least a trillion more dollars.
Vanity Fair magazine published a snarky piece earlier this week about this debt explosion with the title "Republicans Are Spending Money Like Marie Antoinette with a Black Card" (link here).
The article begins: "Once upon a time -- as in, prior to January 20, 2017 -- any Democrat to utter the phrase 'domestic spending' was immediately silenced by a Greek chorus of G.O.P. lawmakers squawking about the deficit. In 2009, when the Senate passed a $787 billion economic stimulus measure to combat the financial crisis, Senate Majority Leader Mitch McConnell called the vote 'one of the most expensive...in history,' and added, 'Americans are wondering how we’re going to pay for all this.'"
In 2009, a tax cut was badly needed to jump-start the stalled economy after one of the worst recessions in a century, but Republicans in Congress balked. In 2018, when the economy is purring along fine, the GOP developed collective amnesia and passed a much more expensive tax cut.
There's no other way to say it: the Republicans are shameless with their staggering hypocrisy.
So back to Trump's 2016 promise. No one has asked him lately if he still plans on honoring that pledge to eliminate all debt or if that was just another big fat lie.
It's pretty clear, however, that Trump has no real clue how deficits and debt work. Last October, for instance, he made the nonsensical claim that a rising stock market will wipe out the national debt (details here). Of course it won't.
The man has an undergraduate degree from Wharton but attended at a time when it was easy to pay a starving graduate student to do your papers and take your exams. And Trump bragged repeatedly before he entered politics that he never attended class nor read the required textbooks.
It's no wonder he filed for bankruptcy six times. He doesn't understand basic finance.
A man like that should be kept as far away from the Oval Office as possible.