Donald Trump didn’t make a lot of news at his latest campaign rally in Houston, though the former president did boast about something he expects to be able to do if given a second term:
“We’re going to pay off debt — the $35 trillion in debt. We’re going to pay it off. We’re going to get it done fast, too.”
He didn’t appear to be kidding.
Trump says if he is elected he will get the national debt “paid off fast.” pic.twitter.com/AEOf76JyEt
— Ron Filipkowski (@RonFilipkowski) November 2, 2023
If the campaign promise sounds at all familiar, it’s not your imagination. In fact, let’s take a quick stroll down memory lane.
As regular readers may recall, in February 2016, the future president appeared on Fox News and assured viewers that, if he were president, he could start paying off the national debt “so easily.” The Republican argued at the time that it would simply be a matter of looking at the country as “a profit-making corporation” instead of “a losing corporation.”
A month later, Trump declared at a debate that he could cut trillions of dollars in spending by eliminating “waste, fraud, and abuse.” Asked for a specific example, he said, “We’re cutting Common Core.” (Common Core is an education curriculum. It costs the federal government almost nothing.)
A month after that, in April 2016, Trump declared that he was confident that he could “get rid of” the entire multi-trillion-dollar debt “fairly quickly.” Pressed to be more specific, the future president replied, “Well, I would say over a period of eight years.”
By July 2016, he boasted that once his economic agenda was in place, “we’ll start paying off that debt like water.”
As The Washington Post’s Catherine Rampell explained before the Covid-19 crisis, “Federal deficits have widened immensely under Trump’s leadership. This is striking not only because he promised fiscal responsibility — at one time even pledging to eliminate the national debt within eight years — but also because it’s a historical anomaly. Deficits usually narrow when the economy is good and we’re not engaged in a major war. … Trump’s own policies are to blame for this aberration.”
Once the pandemic began, deficits grew even larger. By the time the Republican left office, Trump had added nearly $7.8 trillion to the national debt in just one term, and most of that total was racked up before the Covid crisis.









