Trump Presidency in Turmoil as U.S. National Debt Hits $34 Trillion 💸

The U.S. national debt has now surpassed $34 trillion — a staggering milestone that reflects decades of deficit spending, but with especially sharp increases under Republican administrations, particularly during Donald Trump’s time in office.

Now in his second term, President Trump faces renewed scrutiny as his latest tax and spending package, dubbed the “Big Beautiful Bill,” is projected to add trillions more to the debt over the next decade.

According to official records, during Trump’s first term, the national debt rose by $8.18 trillion — a 40% increase — driven by sweeping tax cuts, increased military spending, and emergency COVID-19 relief.

Despite promising to eliminate the debt, Trump’s 2017 Tax Cuts and Jobs Act slashed corporate taxes from 35% to 21% and lowered the top individual income tax rate from 39.6% to 37%, without offsetting revenue.

According to the Congressional Budget Office, these cuts alone added $1.9 trillion to the deficit.

Critics argue that Trump’s refusal to raise taxes on billionaires or close corporate loopholes left the government underfunded while spending soared.

His new “Big Beautiful Bill,” signed into law on July 4, 2025, makes those tax cuts permanent, adds new breaks for tips and overtime, and increases spending on immigration enforcement and defense.

At the same time, it slashes funding for Medicaid, food assistance, and clean energy programs.

The CBO projects the bill will add another $3.4 to $6 trillion to the national debt over the next decade.

While both parties have contributed to the debt, data shows that Republican presidents have historically added more per term than Democrats.

President Biden, during his term, proposed raising the corporate tax rate to 28% and restoring the top individual rate to 39.6%, aiming to reduce the deficit by $3 trillion over 10 years.

In contrast, Trump’s policies continue to favor tax cuts for the wealthy, with the top 1% expected to receive over $1 trillion in tax breaks over the next decade.

The long-term impact of this debt trajectory is alarming.

Even based on Trump’s own record and priorities, the state of inequality in America is expected to worsen.

Rising interest payments — projected to hit $892 billion in 2025 — reduce the government’s ability to invest in infrastructure, education, and healthcare.

If the debt continues to rise while less revenue is generated to fund it, economists and analysts warn it poses a grave danger to the country at large and to future generations of Americans.

A growing debt burden risks weakening the U.S. dollar, raising inflation, and crowding out private investment.

Without structural reform — including fairer taxation and responsible spending — the U.S. risks long-term economic instability.

The debt is no longer just a number. It’s a reflection of national priorities and the cost of political decisions made without accountability.

As Trump’s second term unfolds, with questionable priorities and diversion of public funds, the question remains: will the promise of economic growth be enough to justify the mounting cost — or will future generations be left to pay the price?

Some political analysts have also noted that under Democratic presidents, national debt often becomes a media flashpoint, while under Republican leadership, conservative outlets tend to remain silent.

With Trump only six months into his second term and the debt already surging, many are asking: how much deeper will it go?

Yetunde B reports for Yeyetunde’s Blog.