President Donald Trump is making good on his campaign promises. New fiscal data shows that under Trump's leadership, the growth of the national debt has slowed by a staggering 92 percent compared to the Biden era, undermining the narrative pushed by Democrats and the mainstream media.
According to a recent report, public debt rose by nearly $37 billion between January 22 and May 6. In contrast, during the same period in 2024 under Biden, the debt surged by over $478 billion. This marks a 92 percent reduction in the rate of debt growth, primarily reflecting Trump’s successful efforts to rein in federal spending through the Department of Government Efficiency.
While a $5.5 billion reduction in a $26.2 trillion national debt may seem small, the decrease in debt financed through instruments like Treasury bonds, rather than internal government transfers, shows that Trump’s second term has led to meaningful cuts in federal spending.
More from the report:
From Inauguration Day to May 5, debt held by the public rose by $37,238,323,646.66. Because this accounts for an influx of revenue around April Tax Day, the comparable window to compare Trump’s performance to that of his predecessor is not Trump’s first 104 days with the last 104 days of Joe Biden (when debt held by the public rose by $521,984,501,224.88), but to the same window in 2024.
From Jan. 22, 2024, to May 6, 2024, debt held by the public rose by $478,402,286,425.95.
Still, that means that the growth in our outstanding national debt fell by an astounding 92%. Part of this is indeed due to the federal revenue generated by the early Trump business boom and the subsequent tariff regime, which may have scared markets but has slightly increased Uncle Sam’s coffers: Relative to the same 104 days in 2024, the federal government collected $21 billion more in corporate tax revenue, or a 15% increase, and nearly $6 billion in tariff revenue.
But a significant portion is due to early successes at slashing spending.
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A recent poll by J.L. Partners shows that Trump's approval rating has risen to 53 percent, marking a four-point increase from last week's poll, which stood at 49 percent. The percentage of voters aged 18 to 29 has improved by 13 points.
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