Is TRUMP Comfortable with Our DEBT?

I’m not super-interested in following / commenting too much on what so many others are doing. I’m grateful for all the good President Trump is doing, and all the people out there rightfully praising it.

But I like to focus on the key issues that I believe are or could be problematic, and that are often not discussed nearly enough from my vantage point. In my universe, I guess I’d call them my “big ticket” / “underreported” issues. I could list these issues on one hand…

1. The obscene murder of the unborn.
2. The steady degradation of our culture (which created issue one).
3. The border invasion (Thank God for what Trump and his team are doing!).
4. Our corrupt and broken election system (Again, thank God for Trump’s efforts–and many others outside of government).
5. Our crushing debt.

Although our debt situation is “only” number five on my list; it is HUGE! By itself, a nation’s high debt can end up spiraling out of control, and swiftly cause its END.

History shows us any number of countries who have gotten into serious trouble with debt, or even collapsed, such as the recent example of Venezuela.

Which brings me to Trump and debt…

Believe me, I fully appreciate the work of DOGE in searching for and exposing the outrageous “waste, fraud, and abuse” that has become so pervasive in America, all while we slept. DOGE’s website is a great source for what they are uncovering, and their X page is really comprehensive and current.

Of course I hope their work in finding waste continues, but we’re going to have to get really serious if we want to restore true fiscal sanity, and God willing, avoid the massive “iceberg” looming ahead.

Keep in mind, with all the waste, fraud, and abuse that DOGE is uncovering, our national debt is above $36 TRILLION and constantly moving upwards! We must STOP AND REVERSE it!!!

Is There a Debt CEILING?

I’ve been concerned about President Trump’s attitude toward debt for a long time. I know that in Trump’s first term, the national debt went up by 39.2%, a higher percentage than even Joe Biden’s administration (30.5%), according to Investopedia! Biden did spend more than Trump–by about $8.45 Trillion to $7.80 T, but since the numbers had grown greater by the time Biden’s term was over, Trump’s spending was larger by percentage.

Let’s just say that both administrations spent a lot!

Yes, much of this came after the COVID-19 situation was thrust on Trump, I understand. But there’s quite a bit that apparently had nothing to do with COVID. Here’s a Trump/Biden debt comparison as of June of last year (about three and a half years into Biden’s term) that separates out COVID-related funding (or at least a large portion of it).

I also understand that Trump had to rebuild the military, which was neglected under Barack Obama, so that has to be taken into account. The original article I noted breaks down the debt accrued by ALL Presidents. For instance, Obama was ranked FIFTH highest for debt increase at 64.4%. He might not have been building up our military, but he was sure spending!

Considering the fact that the President is Commander-In-Chief of our armed forces, and that he has a duty to protect our nation, it is understandable that a President who cares about our country would increase military spending. But by how much, and for what purposes?

My favorite President, Ronald Reagan, a man who balanced an out-of-control budget as Governor of California–actually ranked number THREE of all Presidents in percentage of debt increase–rising by 160.8% while Reagan was in office! Much of that debt was–again–due to his building up of our military, which was neglected by Jimmy Carter, the previous President, in a familiar pattern.

Of course, we have to add that it’s the CONGRESS that is actually in charge of spending our money. Reagan used to complain about that–that every one of the budgets he introduced was “dead on arrival” when it reached the Democrat-controlled Congress.

Reagan tried his own version of DOGE, called the Grace Commission, which led to Citizens Against Government Waste, but unfortunately these efforts had limited success. One big issue was that the Grace Commission projected only 27% of the cost-cutting proposals could be dealt with directly by the President–73% had to be acted on by Congress, led at the time by big-spender Tip O’Neil.

So Is Trump a Cost-Cutter or a Big Borrower?

If one looks back at President Trump’s career as a real estate developer, it is clear that he has been a big proponent of using “other people’s money” (OPM) to finance his projects. Trump has never filed for personal bankruptcy, and his six corporate bankruptcies have been defended by some, such as in this recent article in The Gateway Pundit.

Trump’s bankruptcies have all been in the casino/gaming industry, which is known for being high-risk. The question is, does the volatility of the industry alone account for Trump’s bankruptcies, or did his affinity for flash and risk contribute to it?

I’m asking this–not to resurrect the past for its own sake–but to see if Trump’s past strategy of using debt to make money is STILL the way he views debt. It is HIGHLY relevant today, needless to say.

During his 2016 campaign, Trump said, ““I know how to deal with debt very well — I love debt — but, you know, debt is tricky, and it’s dangerous, and you have to be careful, and you have to know what you’re doing.” He was saying this in the context of real estate debt–not government debt–to be fair.

But regarding the government, he has said, “This is the United States government. First of all, you never have to default because you print the money.” He said that in the context of “buying back debt at a discount.” Nevertheless, his attitude on debt in general appears to be pretty cavalier, and I’ve heard him discuss the issue with a similar air a number of times.

Trump recently said that his administration was examining U.S. Treasury debt payments for possible fraud and suggested that the country’s $36 trillion debt load might not be that high.  “It could be that a lot of those things don’t count. In other words, that some of that stuff that we’re finding is very fraudulent, therefore maybe we have less debt than we thought.” This would be great news, of course. Let’s find out ASAP. But for now, I’m operating on the assumption that the U.S. has extremely high debt. And whatever number it’s at, we have to reverse it to help ensure a solid future for ourselves and those who come behind us.

Trump recently supported a “Continuing Resolution” (CR) to fund the government and avoid a “shutdown,” and has done so a number of times in the past, agreeing with proposals to raise the debt ceiling. This will effectively leave in place Biden’s existing budget, which I have no doubt is full of bloat, and God knows what else.

Trump also went hard after budget continuing resolution critic Thomas Massie of Kentucky, saying he should be “primaried” for voting against it, and likening him to Liz Cheney.

Is this just a strategic decision on Trump’s part so that the Republicans are not blamed for shutting the government down–a longstanding Democrat tactic–or does it hint at Trump’s comfort level with debt–even $36 TRILLION of it?

It’s a good question.

Donald Trump is a cagey operator. No one should doubt that at this point. A certain amount of ambiguity is good in negotiations, and Trump has used this tactic masterfully over his lifetime. Nevertheless, sometimes it helps to know EXACTLY where a man stands on matters of principle. Is extremely high debt bad–as millions of Americans believe and rightfully fear? Or is it something Trump and players inside the government believe they can somehow “manage”?

Founding Fathers On Debt

The “father of our country,” George Washington, from his Farewell Address (1796), said: “Avoid likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertions in time of peace to discharge the debts which unavoidable wars may have occasioned, not ungenerously throwing upon posterity the burden which we ourselves ought to bear.”

Thomas Jefferson saw debt as a moral failing and a tool of oppression. In a 1816 letter to John Taylor, he wrote: “I sincerely believe… that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.” He also warned in an earlier 1789 letter to James Madison: “The earth belongs to the living… No generation can contract debts greater than may be paid during the course of its own existence.”

James Madison: In a 1790 speech to Congress (the year after Jefferson wrote the above-referenced letter to him), said: “Public debt is a public curse when it exceeds the ability of the nation to manage it.”

Alexander Hamilton (our first Treasury Secretary) had a different view, one that President Trump seems to be more inclined toward: “A national debt, if it is not excessive, will be to us a national blessing; it will be a powerful cement of our Union.” He also said that debt must be sustainable and backed by revenue (e.g., taxes), and not allowed to spiral out of control.

I know what I believe. And I believe we need to know–NOW–where President Trump stands on an issue that has so much bearing on our present–and especially our future. Take a look at this illuminating conversation between Clayton Morris of Redacted and Ron Paul–a lifelong stalwart on sound monetary policy.

Would you let me know how YOU see the great debt threat? Do you believe President Trump will “slay this dragon” or attempt to “tame” it? Our future depends on how we deal with it.

Patrick Rooney is the Founder of OldSchoolUs.com. He promotes natural health, success, and freedom during chaotic times.