Article Image

IPFS News Link • Government Debt & Financing

Exploring Trump's Claim of Using Tariffs to Pay Down $21 Trillion in Debt

• moneymaven.io by Mike Mish Shedlock

Trump's Claim

?

Data for the above chart downloaded from US Government Debt, not an official government website. There are lots of excellent charts one can view already made or create from downloaded data.

Budgeted vs. Actual Deficits

?

I created the above chart showing budgeted deficits vs what actually happened. I calculated actual deficits by subtracting the year-over-year national debt from the year-over-year national debt from the prior year.

Projections vs Reality

In nearly all cases, the actual deficit is way higher than projected. Why?

Because the projected deficit does not include all of the amount owed to the Social Security Trust Fund. That amount is called off-budget. But when the calendar year rolls over, the difference magically appears as a bigger than projected increase in the national debt.


midfest.info