Federal Debt Hampers Trump's Economic Strategy

Donald Trump's ambitious economic plans face significant challenges due to the rising costs associated with the federal government's $36 trillion debt. High interest rates and inflation have increased borrowing costs, causing debt service expenses to surpass national security spending. These financial constraints limit Trump's ability to implement his proposed tax cuts and tariffs and pose a political challenge as they contribute to higher living costs for Americans. The debt situation is further crowding out necessary government investments in infrastructure and education. Trump has appointed Scott Bessent as treasury secretary, hoping his expertise will help manage the debt issue. The complexity of the debt problem risks hindering Trump's economic agenda, especially with parts of his 2017 tax cuts set to expire soon.