Bloomberg Businessweek

The Deficits in Trump’s Future

He promised to be rid of the national debt in eight years. Good luck with that His administration plans to balance the budget with what he says will be huge gains in economic growth
A History in the Red

Last April, lunching amid construction debris at his new hotel five blocks from the White House, Republican presidential candidate Donald Trump told the Washington Post he would get rid of the national debt “over a period of eight years.” It may have been the boldest promise he’s ever made, considering the U.S. hasn’t been debt-free since 1835. The debt at the time was more than $19 trillion, and rising. Trump predicted he could turn back the tide even though he thought the country was headed for a “very massive recession.”

Now that he’s in the White House (and his hotel is open),

You're reading a preview, sign up to read more.

More from Bloomberg Businessweek

Bloomberg Businessweek4 min read
Exxon Goes Deep in Brazil
The mammoth energy company returns to the country as part of a long-term, oil-centered strategy
Bloomberg Businessweek5 min read
Seeing Bubbles
Dear investors, I wanted to give you an update and share some good news: The Bubble Opportunity Hedge Fund is up more than 22 percent this year thanks to our significant holdings of long-term government bonds, Bitcoin, and urban real estate. Alright
Bloomberg Businessweek7 min read
Take Another Little Piece Of My Art Now, Baby
The music business wants to blow up copyright protection—and the Trump administration is backing it