Verified sources.
Clear updates.
The enormous US debt under Trump will hobble the next Democratic administration – just as the GOP planned You could pin the US’s staggering $40tn in government debt to Donald Trump’s Keystone Cops-style governance. Tariffs he sold as a new source of revenue were struck down by the supreme court, forcing the government to return tens of billions of dollars to importers. Elon Musk’s “department of government efficiency” (Doge), ostensibly created to stop wasteful government spending, decimated federal programs and likely killed millions of children , but did nothing to close the budget deficit. The burst of inflation following Trump’s misguided adventure in Iran sharply raised the cost of serving the government’s obligations. It was called “starve the beast”.
Missing media or need the complete publisher report? Open The Guardian World
Media link supplied by the Scoop Newsroom app.
The text below was supplied by the Scoop Newsroom app. Third-party reporting is attributed in the source panel.
Rising bond yields alone will raise the government’s cost of servicing the debt, crowding out Democratic spending priorities. His successor, George W Bush, happily spent the inheritance on massive tax cuts that largely benefited the rich.
Breaking news moves fast. Follow @Will466513 on X for breaking news alerts. Follow on X →
Dated changes to this report are shown here as they are published.
Removed by Scoop Timeline eligibility policy
