Long time lurker, first time poster. Sorry but this is a bigger long term issue than anything else I can think of. I know Trump as a business man knows this, but also knows the measures to get it under control won't gain votes. Hoping he can tackle it in 2nd term, Dems definitely won't until its too late.
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When the Dems plan is to spend $90 trillion on the green new deal, your not going to gain anything coming out and telling everyone your slashing budgets to reduce the debt.
The president has limited power in cutting the budget anyway, appropriations is delegated to congress.
It cannot and will not be reduced as long as we have Bad Actors willing to destroy the economy in their pursuit of power. On top of that the only real Economic Engine this Country has at the moment is Interest Payments. If you haven't noticed or you're not old enough to notice everything can be financed these days.
From what I see, President Trump is doing whatever he can to break the relationship between the Federal Reserve and the United States of America. Usually tax rates and the fed interest rates are inversely related. This is the first time I'm aware of where we are getting lower interest rates AND lower tax rates, which reduces revenue flow to the Fed. Trump has forced this issue every step.
Trump is also forcing bad US debt onto the fed balance sheet. Increasing debt loads of the US government and forcing the Fed to monetize even more risk exposure while slowing or stopping payments to the Fed will eventually cause the Fed to either go bankrupt or sever it's existing role.
I have no insider knowledge of any of this. Just watching and trying to interpret events. Trump is a master at putting the hurt on lenders. Now he's busting the nuts of the Federal Reserve.
Because you would have to slaughter too many Sacred Cows. ( Welfare of all types, Disability for any reason, Public sector unions) These groups have grown too big to piss off. Not to mention public employees in general that make 55% more on average than their private counterparts and earn 1 paid day off for every 1.4 days worked.
The only way to deal with our debt is to grow our way out of it and President Trump was doing a fine job of that till COVID and the left trashed the economy.
He'll fix it in his third term.....