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US President Trump decreases US Debt by more than $100 Billion

This will not be shared by CNN, the Failing NYT or the Washington Post.

Alex Christoforou

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For all the bad press (and fake news) heaped on US President Trump by the liberal left mainstream media, important fiscal discipline is starting to seep through the massive spending made from deep within the DC swamp.

President Trump has cut more US Federal debt for a longer period of time than any US President in history.

Via The Gateway Pundit

When President Trump was inaugurated on January 20, 2017 the amount of US Federal Debt owed both externally and internally was over $19 Trillion at $19,947,304,555,212.

As of August 17th the amount of US Debt had decreased by more than $100 Billion to $19,845,188,460,167.

No President in US history has ever cut the amount of US Debt by this amount and no President has resided over a debt cut like this ever. 

History buffs may say that this is incorrect because President Bill Clinton and President George W. Bush oversaw US Debt cuts over a period of a few years after the Republican Congress led by House Speaker Newt Gingrich forced Clinton into signing a balanced budget.  We thought the same, but our analysis determined that this is actually not correct.

The Gateway Pundit notes that Congress did push Clinton into signing a balanced budget but the amount of US debt during this period actually increased. This is confirmed through data maintained by the US Treasury at Treasurydirect.gov.

The US Government Accountability Office (GAO) has performed audits since 1997 of the US Debt amounts outstanding. In their analysis they show that when accounting for US Debt Held by the Public and US Intergovernmental Debt Holdings, the amount of US Debt has increased every year since their audits began.

Via The Gateway Pundit

The amount of US Debt Held by the Public decreased each year from 1999, 2000 and 2001 but the amount Intergovernmental Debt Holdings increased at larger amounts during this period.

The Treasury website does provide daily amounts of debt outstanding but this reporting only goes back to March 31, 2005. The Treasury does provide monthly amounts outstanding back through September 30, 2001 and annual amounts back through 1997.  The audited financial statement show the increase in US Debt annually from 1997 through 2016.

We know that no President has reduced the amount of US Debt for a longer period of time because no President has reduced the amount of US Debt since 1997.

A review of the amount of (unaudited) of US Debt outstanding back through the Civil War shows that the last time the US Federal Government had a debt decrease between years was when Republican Eisenhower was President in 1957 and 1958.  He cut the amount of US Debt by $2 Billion each year from $274 Billion in 1956 to $273 Billion in 1957 and again to $271 Billion in 1958.

No President besides President Donald Trump has cut the amount of US Debt by $100 Billion ever.

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K.P.ShahnaCJ SimonAndy MasakiVera Gottlieb Recent comment authors
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Daisy Adler
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Daisy Adler

A drop in the bucket of $20,000 billion debt.

Popart 2015
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Popart 2015

As soon as NK war starts as soon that debt will skyrocketing!

foxenburg
Guest
foxenburg

You say Trump cut the debt. What did he do to achieve this?

Shahna
Guest

He hasn’t.
Just look at the debt clock.

And check out the unfunded liabilities while you’re there… (WOW)

Seán Murphy
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Seán Murphy

100 billion seems a lot, but off a deficit of nearly 21 trillion it’s not a lot.

Shahna
Guest

Not even a percent – AND the Debt Clock says otherwise.
Fluff for the American sheeple.

Shahna
Guest

No President besides President Donald Trump has cut the amount of US Debt by $100 Billion ever.
—————
How many Tomahawks missiles is that?

Shahna
Guest

You sure someone isn’t pulling your leg?

US debt clock says $19,972,971,XXX,XXX
(Them X’s are changing too fast to call ’em numbers.)

Shahna
Guest

And between that post and this one it went UP by $1 million…..

tiredofthemedialies
Guest
tiredofthemedialies

That’s a tiny ammount. The per-annum interest on the debt is more than that.

Shahna
Guest

Interest is $1 billion PER DAY.

RobertX5
Guest
RobertX5

Is the Duran not aware of the rules pertaining to the debt limit. In Oct 15 the limit was suspended but was to be reintroduced in Much 17 at whatever the debt was, turned out to be a shade under 20 trillion. The treasury announced the introduction of emergency measures to delay default which is expected to keep things going till Nov. At that time if a new limit is not agreed the gov will stop paying certain bills. If a new limit is agreed the debt will lurch upwards as the emergency measures unwind..

Vera Gottlieb
Guest
Vera Gottlieb

How was this accomplished? I know Americans love to fib with their figures when it is a matter of looking good.

Shahna
Guest
Vera Gottlieb
Guest
Vera Gottlieb

Thanks but I still don’t see it. Fibbing with figures…an old trick.

CJ Simon
Guest
CJ Simon

http://www.usdebtclock.org is just a program running on autopilot. It does not reflect the actual debt accurately. If you look at other clocks that update weekly you will see that the current debt is approx. $19,861,737,662,637. The usdebtclock.org is off by almost 115 billion. That makes Trump one of the greatest Presidents fiscally in my lifetime.

Shahna
Guest

Good luck.
The difference between $19.9T and $19.8T seems a little more … academic … to me. BTW. What gives you the idea that that one is more accurate than this one or vice versa?

115 billion …. what’s your military budget again?
So what’s 115B – 6 weeks in Afghanistan?
Time flies.

K.P.
Guest
K.P.

Not even close. You’re thanking the wrong man. It’s courtesy of Obama. However, provide me with proof on your claim and we’ll see.

Shahna
Guest

“As of August 17th the amount of US Debt had decreased by more than $100 Billion to $19,845,188,460,167.”

and in the last four (4) days it climbed up to $19,973,015,599,010…..??
Yah sure.
————————–
Fluff for the sheeple!
Support Trump – he’s bringing down the debt. Just ANOTHER Yankee lie.

Andy Masaki
Guest

It is true that there has been a more than $100 billion decrease in overall debt. So, is it really a credit going to Mr. Trump? Or we the citizen of US should take the credit? For those who don’t know, you can issue a check payable to the Bureau of the Fiscal Service stated as a gift to reduce public debt. Who knows what happened behind the curtains!!

CJ Simon
Guest
CJ Simon

For those of you who keep referring to http://www.usdebtclock.org:
http://www.usdebtclock.org is just a program running on autopilot. It does not reflect the actual debt accurately. If you look at other clocks that update weekly you will see that the current debt is approx. $19,861,737,662,637. The usdebtclock.org is off by almost 115 billion. That makes Trump one of the greatest Presidents fiscally in my lifetime.

K.P.
Guest
K.P.

No it doesn’t. If you keep copying and pasting the same stuff I’m gonna start suspecting you’re a paid troll.

K.P.
Guest
K.P.

I actually researched on this when somebody mentioned it. That decrease is courtesy of President Obama (if you looked you could see Obama decreased the amount each year, something you won’t see on the failing Washington Times, fake Fox “News” or the Gateway Pundit.) Not only can you tell from the chart but Trump didn’t sign any significant piece of legislative until later in the year so how can he get credit for something he didn’t do? Come on now!
However, he has added $1.4 (and growing) trillion to the deficit.

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Macron offers crumbs to protestors in bid to save his globalist agenda (Video)

The Duran Quick Take: Episode 36.

Alex Christoforou

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The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris take a quick look at French President Macron’s pathetic display of leadership as he offers protestors little in the way of concessions while at the same time promising to crack down hard on any and all citizens who resort to violence.

Meanwhile France’s economy is set for a deep recession as French output and production grinds to a halt.

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Via Zerohedge


As if Brussels didn’t have its hands full already with Italy and the UK, the European Union will soon be forced to rationalize why one of its favorite core members is allowed to pursue populist measures to blow out its budget deficit to ease domestic unrest while another is threatened with fines potentially amounting to billions of euros.

When blaming Russia failed to quell the widespread anger elicited by his policies, French President Emmanuel Macron tried to appease the increasingly violent “yellow vests” protesters who have sacked his capital city by offering massive tax cuts that could blow the French budget out beyond the 3% budget threshold outlined in the bloc’s fiscal rules.

Given the concessions recently offered by Italy’s populists, Macron’s couldn’t have picked a worse time to challenge the bloc’s fiscal conventions. As Bloomberg pointed out, these rules will almost certainly set the Continent’s second largest economy on a collision course with Brussels. To be clear, Macron’s offered cuts come with a price tag of about €11 billion according to Les Echos, and will leave the country with a budget gap of 3.5% of GDP in 2019, with one government official said the deficit may be higher than 3.6%.

By comparison, Italy’s initial projections put its deficit target at 2.4%, a number which Europe has repeatedly refused to consider.

Macron’s promises of fiscal stimulus – which come on top of his government’s decision to delay the planned gas-tax hikes that helped inspire the protests – were part of a broader ‘mea culpa’ offered by Macron in a speech Monday night, where he also planned to hike France’s minimum wage.

Of course, when Brussels inevitably objects, perhaps Macron could just show them this video of French police tossing a wheelchair-bound protester to the ground.

Already, the Italians are complaining.  Speaking on Tuesday, Italian cabinet undersecretary Giancarlo Giorgetti said Italy hasn’t breached the EU deficit limit. “I repeat that from the Italian government there is a reasonable approach, if there is one also from the EU a solution will be found.”

“France has several times breached the 3% deficit. Italy hasn’t done it. They are different situations. There are many indicators to assess.”

Still, as one Guardian columnist pointed out in an op-ed published Tuesday morning, the fact that the gilets jaunes (yellow vest) organizers managed to pressure Macron to cave and grant concessions after just 4 weeks of protests will only embolden them to push for even more radical demands: The collapse of the government of the supremely unpopular Macron.

Then again, with Brussels now facing certain accusations of hypocrisy, the fact that Macron was pressured into the exact same populist measures for which Italy has been slammed, the French fiasco raises the odds that Rome can pass any deficit measure it wants with the EU now forced to quietly look away even as it jawbones all the way from the bank (i.e., the German taxpayers).

“Macron’s spending will encourage Salvini and Di Maio,” said Giovanni Orsina, head of the School of Government at Rome’s Luiss-Guido Carli University. “Macron was supposed to be the spearhead of pro-European forces, if he himself is forced to challenge EU rules, Salvini and Di Maio will jump on that to push their contention that those rules are wrong.”

While we look forward to how Brussels will square this circle, markets are less excited.

Exhausted from lurching from one extreme to another following conflicting headlines, traders are already asking if “France is the new Italy.” The reason: the French OAT curve has bear steepened this morning with 10Y yields rising as much as ~6bp, with the Bund/OAT spread reaching the widest since May 2017 and the French presidential election. Though well below the peaks of last year, further widening would push the gap into levels reserved for heightened political risk.

As Bloomberg macro analyst Michael Read notes this morning, it’s hard to see a specific near-term trigger blowing out the Bund/OAT spread but the trend looks likely to slowly drift higher.

While Macron has to fight on both domestic and European fronts, he’ll need to keep peace at home to stay on top. Remember that we saw the 10Y spread widen to ~80bps around the May ’17 elections as concerns of a move toward the political fringe played out in the markets, and the French President’s popularity ratings already look far from rosy.

And just like that France may have solved the Italian crisis.

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Watch: Democrat Chuck Schumer shows his East Coast elitism on live TV

Amazing moment in which the President exhibits “transparency in government” and shows the world who the Democrat leaders really are.

Seraphim Hanisch

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One of the reasons Donald Trump was elected to the Presidency was because of his pugnacious, “in your face” character he presented – and promised TO present – against Democrat policy decisions and “stupid government” in general.

One of the reasons President Donald Trump is reviled is because of his pugnacious, “in your face” character he presented – and promised TO present – in the American political scene.

In other words, there are two reactions to the same characteristic. On Tuesday, the President did something that probably cheered and delighted a great many Americans who witnessed this.

The Democrats have been unanimous in taking any chance to roast the President, or to call for his impeachment, or to incite violence against him. But Tuesday was President Trump’s turn. He invited the two Democrat leaders, presumptive incoming House Speaker Nancy Pelosi, and Senate Minority Leader Chuck Schumer, and then, he turned the cameras on:

As Tucker Carlson notes, the body language from Schumer was fury. The old (something)-eating grin covered up humiliation, embarrassment and probably no small amount of fear, as this whole incident was filmed and broadcast openly and transparently to the American public. Nancy Pelosi was similarly agitated, and she expressed it later after this humiliation on camera, saying, “It’s like a manhood thing for him… As if manhood could ever be associated with him.”

She didn’t stop there. According to a report from the New York Daily News, the Queen Bee took the rhetoric a step below even her sense of dignity:

Pelosi stressed she made clear to Trump there isn’t enough support in Congress for a wall and speculated the President is refusing to back down because he’s scared to run away with his tail between his legs.

“I was trying to be the mom. I can’t explain it to you. It was so wild,” Pelosi said of the Oval Office meet, which was also attended by Vice President Pence and Senate Minority Leader Chuck Schumer (D-N.Y.). “It goes to show you: you get into a tinkle contest with a skunk, you get tinkle all over you.”

This represented the first salvo in a major spin-job for the ultra-liberal San Francisco Democrat. The rhetoric spun by Mrs. Pelosi and Chuck Schumer was desperate as they tried to deflect their humiliation and place it back on the President:

With reporters still present, Trump boasted during the Oval meeting he would be “proud” to shutdown the government if Congress doesn’t earmark cash for his wall before a Dec. 21 spending deadline.

Pelosi told Democrats that Trump’s boisterousness will be beneficial for them.

“The fact is we did get him to say, to fully own that the shutdown was his,” Pelosi said. “That was an accomplishment.”

The press tried to characterize this as a “Trump Tantrum”, saying things like this lede:

While “discussing” a budgetary agreement for the government, President Donald Trump crossed his arms and declared: “we will shut down the government if there is no wall.”

While the Democrats and the mainstream media in the US are sure to largely buy these interpretations of the event, the fact that this matter was televised live shows that the matter was entirely different, and this will be discomfiting to all but those Democrats and Trump-dislikers that will not look at reality.

There appears to be a twofold accomplishment for the President in this confrontation:

  1. The President revealed to his support base the real nature of the conversation with the Democrat leadership, because anyone watching this broadcast (and later, video clip) saw it unedited with their own eyes. They witnessed the pettiness of both Democrats and they witnessed a President completely comfortable and confident about the situation.
  2. President Trump probably made many of his supporters cheer with the commitment to shut down the government if he doesn’t get his border wall funding. This cheering is for both the strength shown about getting the wall finished and the promise to shut the government down, and further, Mr. Trump’s assertion that he would be “proud” to shut the government down, taking complete ownership willingly, reflects a sentiment that many of his supporters share.

The usual pattern is for the media, Democrats and even some Republicans to create a “scare” narrative about government shutdowns, about how doing this is a sure-fire path to chaos and suffering for the United States.

But the educated understanding of how shutdowns work reveals something completely different. Vital services never close. However, National Parks can close partly or completely, and some non-essential government agencies are shuttered. While this is an inconvenience for the employees furloughed during the shutdown, they eventually are re-compensated for the time lost, and are likely to receive help during the shutdown period if they need it. The impact on the nation is minimal, aside from the fact that the government stops spending money at the same frenetic pace as usual.

President Trump’s expression of willingness to do this action and his singling out of the Dem leadership gives the Democrats a real problem. Now the entire country sees their nature. As President Trump is a populist, this visceral display of Democrat opposition and pettiness will make at least some impact on the population, even that group of people who are not Trump fans.

The media reaction and that of the Democrats here show, amazingly, that after three years-plus of Donald Trump being a thorn in their side, they still do not understand how he works, and they also cannot match it against their expected “norms” of establishment behavior.

This may be a brilliant masterstroke, and it also may be followed up by more. The President relishes head-to-head conflict. The reactions of these congress members showed who they really are.

Let the games begin.

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French opposition rejects Macron’s concessions to Yellow Vests, some demand ‘citizen revolution’

Mélenchon: “I believe that Act 5 of the citizen revolution in our country will be a moment of great mobilization.”

RT

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Via RT…


Macron’s concessions to the Yellow Vests has failed to appease protesters and opposition politicians, such as Jean-Luc Mélenchon, who called for “citizen’s revolution” to continue until a fair distribution of wealth is achieved.

Immediately after French President Macron declared a “social and economic state of emergency” in response to large-scale protests by members of the Yellow Vest movement, promising a range of concessions to address their grievances, left-wing opposition politician Mélenchon called on the grassroots campaign to continue their revolution next Saturday.

I believe that Act 5 of the citizen revolution in our country will be a moment of great mobilization.

Macron’s promise of a €100 minimum wage increase, tax-free overtime pay and end-of-year bonuses, Mélenchon argued, will not affect any “considerable part” of the French population. Yet the leader of La France Insoumise stressed that the “decision” to rise up rests with “those who are in action.”

“We expect a real redistribution of wealth,” Benoît Hamon, a former presidential candidate and the founder of the Mouvement Génération, told BFM TV, accusing Macron’s package of measures that benefit the rich.

The Socialist Party’s first secretary, Olivier Faure, also slammed Macron’s financial concessions to struggling workers, noting that his general “course has not changed.”

Although welcoming certain tax measures, Marine Le Pen, president of the National Rally (previously National Front), accused the president’s “model” of governance based on “wild globalization, financialization of the economy, unfair competition,” of failing to address the social and cultural consequences of the Yellow Vest movement.

Macron’s speech was a “great comedy,”according to Debout la France chairman, Nicolas Dupont-Aignan, who accused the French President of “hypocrisy.”

Yet many found Melanchon’s calls to rise up against the government unreasonable, accusing the 67-year-old opposition politician of being an “opportunist” and “populist,” who is trying to hijack the social protest movement for his own gain.

Furthermore, some 54 percent of French believe the Yellow Vests achieved their goals and want rallies to stop, OpinionWay survey showed. While half of the survey respondents considered Macron’s anti-crisis measures unconvincing, another 49 percent found the president to be successful in addressing the demands of the protesters. Some 68 percent of those polled following Macron’s speech on Monday especially welcomed the increase in the minimum wage, while 78 percent favored tax cuts.

The Yellow Vest protests against pension cuts and fuel tax hikes last month were organized and kept strong via social media, without help from France’s powerful labor unions or official political parties. Some noted that such a mass mobilization of all levels of society managed to achieve unprecedented concessions from the government, which the unions failed to negotiate over the last three decades.

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