David Stockman: Trump’s $30 trillion Debt Disaster

David Stockman is a board member of the Committee for a Responsible Federal Budget, former director of the Office of Management and Budget, and former US Representative for Michigan. He recently wrote an opinion piece for the Boston Globe, an excerpt of which can be found below.

During his first term in the Oval Office, Donald Trump added nearly $8 trillion to the national debt. That was more than 43 presidents had combined to accumulate during the first 216 years of the Republic. 

But that was apparently just a warm-up, given that the self-described “king of debt" spent the 2024 campaign slicing and dicing the federal income tax nearly as fast as he served up fries at the McDonald’s drive-through. He thus proposed to extend the huge 2017 tax cuts and to exempt tips, Social Security benefits, and overtime wages from the federal income tax. In the final weeks of the campaign, he also said he’d consider extending these exemptions to the nation’s approximately 370,000 firefighters, 1.4 million police officers, 1.3 million active duty military personnel, and 16 million veterans

Read the entire piece here. 

Published works by members or staff of the Committee for a Responsible Federal Budget do not necessarily reflect the views of all members or staff of the Committee.