The United States faces an unprecedented federal spending crisis. Per capita federal spending, adjusted for inflation, has soared from $230 in 1900 to a staggering $18,000 today. This exponential growth has placed an unsustainable burden on taxpayers and the national debt, which ballooned from $19.95 trillion to $27.75 trillion during Donald Trump’s first term—a $7.8 trillion increase.
While some of this debt accumulation stemmed from the COVID-19 pandemic, much of it resulted from deliberate policy choices. Estimates from the nonpartisan Committee for a Responsible Federal Budget reveal that Trump’s legislative and executive actions added $8.4 trillion to the national debt over a decade. This includes $7.3 trillion in primary deficits (spending minus revenue) and $1 trillion in associated interest costs.
Trump campaigned in 2016 on a promise to eliminate the national debt within eight years. Instead, his administration saw significant increases, driven by tax cuts, increased military spending, and bipartisan support for costly stimulus measures. Although his proposed budgets included deficit-reduction measures, Congress failed to enact most of them, resulting in substantial borrowing and missed opportunities to address the fiscal crisis.
As Trump seeks a second term, he must prioritize cutting federal spending and reigning in the national debt. The current trajectory is unsustainable. Rising debt levels lead to higher interest costs, reduced economic growth, and limited resources for future crises. Without decisive action, future generations will bear the burden of today’s fiscal irresponsibility, in fact they already are as these costs are baked into everyday cost of goods, services, home prices and everything you see, touch and feel.
Trump has an opportunity to solidify his legacy by addressing this critical issue. By implementing meaningful spending cuts, reforming entitlement programs, and holding Congress accountable, he can steer the country toward a more sustainable financial future. If he fails to act, the federal spending crisis will only worsen, threatening America’s economic stability, increasing inflation, and raising the cost of living during a time Americans are already feeling the impact of high cost, and less opportunity.
The time for fiscal responsibility is now. Trump’s second term could be the turning point—but only if he makes it a priority. We shall see.