Trump’s First Year Debt is One-Third of Obama’s Debt and Most of the Debt is Due to Yellen’s Interest Rate Increases
Guest post by Joe Hoft
President Trump held the longest and largest decrease of US Federal Debt in US history at $100 Billion, earlier this year, however, this is now over. When President Trump was inaugurated on January 20, 2017 the amount of US Federal Debt owed both externally and internally was over $19 trillion at $19,947,304,555,212. As of last Thursday, December 7th, 2017, the amount of US Debt increased this year by $594 billion or 3 percent.
What the mainstream media (MSM) is not telling you is President Trump’s efforts to minimize the US Debt are hindered by the fact that the debt was twice the size of the US debt when Obama took office, which results in twice the amount of interest on the debt payable each month that the Trump economy must endure that the Obama economy did not. This amount is in the billions. Also, Obama benefited from lower interest rates. During the majority of Obama’s term the US Federal Reserve kept interest rates at near zero. Since President Trump was elected the ‘Fed’ has increased rates three times. These increased rates on an increased debt account for most of the debt increase since January.
Also, what the MSM will not tell you is that President Obama increased the US debt by nearly $1.5 trillion at this time during his Presidency. When Obama was inaugurated the US Debt stood at $10.6 trillion. By December 7th, 2009, President Obama had increased the US Debt to more than $12 trillion. This was an increase of $1.459 trillion or 13.7 percent.
The difference between Presidents Trump and Obama is that President Obama increased the US Debt by $865 Billion or nearly $1 Trillion more than President Trump during their respective eleven months in office. Obama’s first year was admittedly his worst but his average annual increase in US debt during his time in office was almost $1.2 trillion a year. President Trump’s debt increase is still only a fraction of Obama’s.