FLASHBACK: Trump said he was ‘king of debt,’ would eliminate it in 8 years
As Donald Trump continues to push for his “big, beautiful bill” to pass through Congress, concerns over the nation’s skyrocketing debt have once again taken center stage. Trump, who famously referred to himself as “the king of debt” during his first presidential campaign, promised voters that he would pay off the nation’s multi-trillion-dollar debt within 8 years.
The current national debt stands at over $36.2 trillion, with the Congressional Budget Office estimating that Trump’s spending package could add an additional $3 trillion over the next decade. This has led to criticism from both Democrats and Republicans, with GOP defectors voicing concerns that the bill will increase the deficit too much.
One of the most vocal critics of Trump’s bill is tech billionaire Elon Musk, who has publicly clashed with the former president over the issue. Musk, who previously served in the Trump administration as head of the Department of Government Efficiency, has argued that the bill does not go far enough in cutting spending and will only further drive the country into debt slavery.
In a series of fiery social media posts, Musk lambasted the bill as a “disgusting abomination” and warned that the U.S. is headed for de facto bankruptcy if the current trajectory of debt accumulation continues. He also highlighted the fact that the accrued interest on the national debt now exceeds $1 trillion a year, surpassing the annual defense budget.
Despite the backlash, the Trump administration remains steadfast in its support of the bill. White House spokesman Kush Desai praised Trump for his efforts to tackle government waste and reduce spending, claiming that the bill will be the largest deficit reduction in decades.
As the debate over Trump’s “big, beautiful bill” rages on, the nation’s debt clock continues to tick upwards, leaving many Americans concerned about the long-term financial health of the country. With both sides digging in their heels, it remains to be seen whether a compromise can be reached that addresses the concerns over the growing debt while still meeting the administration’s policy goals.
