Economic analysis of our government debt and deficits are horrific, but under President Trump, first year growth of debt is way down compared to his predecessor.
In President Obama’s first year as the nation’s leader, he and the Democrat led Congress blew the doors off the barn when it came to spending. His first year deficit was a whopping $1.7 Trillion. National debt grew from $10.626 Trillion to $12.327 Trillion. An increase in debt of 16%.
Here’s is President Trump’s first year in comparison
This debt is horrible to look at. Under President Trump and a GOP Congress, first year debt spending was reduced in comparison. This years deficit was $549 Billion. The debt increased by 3%. President Obama’s first year deficits was a staggering 115% more than President Trump’s.
In order to make substantial cuts, Congress will need to stop the bleeding. Hopefully this downward trend continues.