The reckless, tax cuts for the rich Malignant Fascist has succeeded in increasing the national debt to a staggering $40 trillion, a development that will surely impact the cost of living and interest rates on purchases. From the Associated Press:
"The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit make up an enormous share of federal spending.
The milestone figure was recorded just five months after the U.S. hit a record $39 trillion debt in March. It reached $38 trillion five months before that, in October.
The unprecedented $40 trillion figure highlights competing administration priorities, from boosting defense spending that the U.S. relies on to carry out President Donald Trump’s almost-6-month-old war in Iran to lowering the cost of gas and groceries. [snip]
...experts say the exploding debt and the latest record milestone are already affecting Americans’ pocketbooks by raising borrowing costs for things like mortgages and cars, lowering wages from businesses that have less money available to invest, and creating more expensive goods and services." (our emphasis)
The billions of dollars in tariffs that filled the Treasury's coffers and had to be paid back after the Supreme Court ruled that they were collected illegally factors into this figure. The MF, in his five and a half years in office, has racked up $11.5 trillion in debt or 28% of the total. That should be in every Dem's stump speech from now until the mid-terms.
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