Even SNOPES agrees that for the first time in DECADES, the United States’ national debt has fallen to a “surprising” extent in the seven months since the inauguration of President Donald Trump.
This new record means that Trump has the longest and largest decrease of the US federal debt in the history of the nation.
President Donald Trump and his administration are undoing the government’s rampant spending that occurred under former President Obama’s watch.
According the U.S. Treasury’s direct record, a surprising amount of money has been saved over the course of seven months. On January 20th, the day Trump was inaugurated, the total debt was $19,947,304,555,212.49. On July 30th, seven short months later, it’s at $19,844,938,940,351.37. Overall the debt has decreased by $102,365,614,861.12.
When Snopes is willing to back up what they would love to call a lie, you know it is extraordinary:
We have checked these numbers and set them in context, and found that the national debt did indeed fall by $102 billion between 20 January and the end of July 2017. This decline is also historically remarkable, in both absolute and percentage terms. This six-month fall in the national debt is also significant when measured against the size of the overall economy.
National debt — the basics
The national debt is, in brief, the total value of what the federal government owes, and is made up of accumulated annual deficits (when the government spends more than it receives in taxes and other income). It is made up of “public debt” and “intragovernmental holdings.” Public debt is, essentially, debt held by sources outside the central government. Intragovernmental holdings are debts between agencies within the federal government, in the form of government trust funds, such as Social Security trust funds.
National debt — the numbers
According to figures published by the Treasury Department’s Bureau of Fiscal Services on the TreasuryDirect web site, the national debt was $19.84 trillion on 27 July 2017 (not 30 July, as stated by Truth Division. On 20 January, it was $19.95 trillion.
That shows a fall of $102.37 billion, or 0.51 percent, over a period of 131 business days. To set that in context, we analyzed national debt data stretching back to 12 July 1993, and examined every 131-day period in the last 24 years. You can download a spreadsheet containing all the relevant data here.
In dollar terms, the fall in the national debt since Trump’s inauguration is the 16th biggest out of 6,032 similar periods since 1993
In percentage terms, it is the 143rd biggest decline out 6,032 similar periods.
The US Government Accountability Office (GAO) has been performing audits on the US debt since 1997. Interesting enough, the federal debt has increased every single year since the audits started 20 years ago.
When you look at the unaudited information, which stretches back to the time of the Civil War, there is only one instance where the US Federal government showed a decrease in the debt. Ironically, this instance was in 1957 and 1958 when Republican Eisenhower was the president.
Eisenhower managed to cut the debt by two billion dollars across two years.
Trump has accomplished this in just half of a year. This should be a huge deal to people, regardless of political affiliation.
Trump has helped boost consumer confidence and brought the stock market to all-time highs across the board, despite not having Wall Street in his back pocket.
The Bureau of Labor Statistics shows that unemployment has dropped sharply, especially considering that Obama put unemployment in the opposite direction. Since Trump’s inauguration, unemployment has gone from 4.8 percent to 4.4 percent, as opposed to Obama’s 7.8 percent to 9.5 percent during the same timeframe.
The real estate market is also soaring. Most houses on sale in 2011 took 84 days to sell; now they are down to 45 days. The US Census Bureau points out that the number of sales has doubled compared to the early period of Obama’s term.
Yet, despite all of this, the Liberal mainstream media has gone out of their way to bring us fake news stories like the Russian collusion conspiracy, and now, allegations that Trump is a racist because he despises Antifa as much as he dislikes neo-Nazis. Hopefully, through the coming years, people learn the truth about President Trump. He has made an incredible, monumental difference in the country and has not even finished his first year in office.
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