Rising national debt surpasses $36 trillion, complicating former President Trump's economic plans due to increased costs.

The rising national debt, now at about $36 trillion, is challenging former President Trump's economic plans. Increased inflation post-pandemic has raised borrowing costs, with debt service costs projected to exceed national security spending next year. This limits Trump's ability to implement tax cuts and other economic programs, as high interest rates also make it costlier for Americans to buy homes and cars. The debt service is crowding out government spending on areas like infrastructure and education, complicating efforts to renew tax cuts and potentially pushing interest rates higher.

November 24, 2024
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