{"id":4450,"date":"2026-07-29T06:39:58","date_gmt":"2026-07-29T06:39:58","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=4450"},"modified":"2026-07-29T06:39:58","modified_gmt":"2026-07-29T06:39:58","slug":"trump-broke-his-promise-to-lower-and-eliminate-the-national-debt-a-top-investor-thinks-hes-the-worst-spending-president-in-history","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=4450","title":{"rendered":"Trump broke his promise to lower \u2014 and eliminate \u2014 the national debt. A top investor thinks he\u2019s the \u2018worst-spending president in history\u2019"},"content":{"rendered":"
\n

In total, the government now owes the equivalent of $113,000 per person, according to USAFacts, a nonprofit civic initiative cofounded by former Microsoft CEO Steve Ballmer which aggregates and analyzes government data.<\/p>\n

Read more Coinbase and Robinhood are in a heated battle rivalry\u2014and this week\u2019s Q2 earnings will show who has the edge<\/a><\/p>\n

These eye-popping numbers are a problem for tech entrepreneur and All-In Podcast cohost Jason Calacanis, who called out President Trump for contributing to the problem in a post on X last week.<\/p>\n

\n
\n
<\/div>\n<\/div>\n<\/div>\n

\u201cPresident Trump has become the worst-spending President in our history, adding ~$2.2-$2.3 T to the national debt in each of his first two years and in his second term,\u201d Calacanis claimed in his post.\u00a0<\/p>\n

To be sure, data from Congress\u2019 Joint Economic Committee shows the national debt actually increased $2.25 trillion during the first year of President Trump\u2019s second term\u2014a sum which climbed to $3.16 trillion through July. Still, Trump may not have approved of all the funding which raised the debt levels, some of which may have been allocated and approved before he took office. During his first term, Trump added $2.2 trillion of debt in his first two years, according to a 2024 report by the nonpartisan Committee for a Responsible Federal Budget.<\/p>\n

Still, Calcanis also argued Trump has reneged on a key campaign promise to make the government more fiscally responsible.\u00a0<\/p>\n

\u201cPresident Trump promised not to add to the national debt during his presidential campaign \u2014 and, in fact, that he would pay it down,\u201d he wrote. \u201cHe has failed badly on both counts.\u201d<\/p>\n

\n
<\/div>\n<\/div>\n

In 2016, Trump said he would eliminate the country\u2019s debt, which at the time stood at $19 trillion, \u201cover a period of eight years.\u201d It has more than doubled instead. Last year, he supported the idea of using 20% of the savings from the Elon Musk-led budget slashing initiative DOGE to pay down the debt.<\/p>\n

White House spokesperson Kush Desai said in a statement to Fortune <\/em>that Trump is the first president to seriously take on waste, fraud, and abuse in the federal government.\u00a0<\/p>\n

\n
\n
<\/div>\n<\/div>\n<\/div>\n

\u201cThe Trump administration has already secured billions in discretionary spending savings for the American people by right-sizing the federal workforce to its lowest level since the 1960s, slashing wasteful programs, and implementing other commonsense reforms. As the President\u2019s growth and savings agenda continues taking effect, America\u2019s debt-to-GDP ratio is set to trend in the right direction,\u201d Desai wrote in the statement.\u00a0<\/p>\n

Read more FIFA\u2019s plan to raise billions from investors is sparking a backlash\u2014one insider says Europe is angry because it could change soccer\u2019s balance of power<\/a><\/p>\n

\n
<\/div>\n<\/div>\n

Last year, the federal government spent $1.2 trillion in interest payments alone \u2014a quantity greater than the total defense budget, itself the largest in the world.<\/p>\n

\n
<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n

Several administrations over decades have continued to add to the national debt, including President Biden, who added about 84. trillion to the federal deficit during his four years in office, according to data previously provided to Fortune<\/em> by the Peterson Foundation, a nonpartisan watchdog that advocates for government financial sustainability. Yet, since his first presidential campaign, Trump has made eliminating a key part of his platform.<\/p>\n

Not reining in the budget deficit could have several long term effects, according to the U.S. Government Accountability Office.<\/p>\n

Higher debt could translate into higher borrowing costs for everyday Americans seeking to take out a loan to buy a home or car as the Treasury sells more bonds to finance government operations and investors demand higher yields. Businesses could also face higher borrowing costs which could lead to stagnant wages and pricier goods and services for consumers.<\/p>\n

The dollar\u2019s position as the world\u2019s reserve currency has so far given the U.S. more room to borrow than other countries, but that doesn\u2019t mean the country can continue to borrow at the same rate indefinitely, Wichita State University international business professor Usha Haley told Fortune<\/em>.<\/p>\n

\n
\n
<\/div>\n<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n

\u201cThe United States is not immune from the consequences of unrealistic policies,\u201d she said. \u201cThe country can currently service its debt, but probably will not be able to in the longer term.\u201d<\/p>\n

In a follow-up post on X, Calacanis argued that controlling the deficit should be the biggest issue of the next presidential campaign.<\/p>\n

\u201cThe number one job of the President is to get the deficit under control. Biden failed. Trump has failed twice. Next election, this is all that matters.\u201d<\/p>\n

Read more The Erling Haaland boom: Norway\u2019s \u2018pop-up economy\u2019 during the World Cup revealed in Visa data<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

“The number one job of the President is to get the deficit under control,\u201d Jason Calacanis wrote in a post on X.<\/p>\n","protected":false},"author":1,"featured_media":4449,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[170],"tags":[],"class_list":["post-4450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-debt"],"yoast_head":"\nTrump broke his promise to lower \u2014 and eliminate \u2014 the national debt. A top investor thinks he\u2019s the \u2018worst-spending president in history\u2019 - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=4450\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump broke his promise to lower \u2014 and eliminate \u2014 the national debt. A top investor thinks he\u2019s the \u2018worst-spending president in history\u2019 - Cross Country Moving Team\" \/>\n<meta property=\"og:description\" content=\""The number one job of the President is to get the deficit under control,\u201d Jason Calacanis wrote in a post on X.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/crosscountrymovingteams.com\/?p=4450\" \/>\n<meta property=\"og:site_name\" content=\"Cross Country Moving Team\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-29T06:39:58+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=4450#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=4450\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#\\\/schema\\\/person\\\/1b8121bfb9a1c55d1fff3fca675fceaa\"},\"headline\":\"Trump broke his promise to lower \u2014 and eliminate \u2014 the national debt. A top investor thinks he\u2019s the \u2018worst-spending president in history\u2019\",\"datePublished\":\"2026-07-29T06:39:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=4450\"},\"wordCount\":773,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=4450#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/e5ff3433e119e215f21cb11f8acd3542.webp\",\"articleSection\":[\"national debt\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=4450#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=4450\",\"url\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=4450\",\"name\":\"Trump broke his promise to lower \u2014 and eliminate \u2014 the national debt. A top investor thinks he\u2019s the \u2018worst-spending president in history\u2019 - Cross Country Moving Team\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=4450#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=4450#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/e5ff3433e119e215f21cb11f8acd3542.webp\",\"datePublished\":\"2026-07-29T06:39:58+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#\\\/schema\\\/person\\\/1b8121bfb9a1c55d1fff3fca675fceaa\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=4450#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=4450\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=4450#primaryimage\",\"url\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/e5ff3433e119e215f21cb11f8acd3542.webp\",\"contentUrl\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/e5ff3433e119e215f21cb11f8acd3542.webp\",\"width\":1200,\"height\":600},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=4450#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Trump broke his promise to lower \u2014 and eliminate \u2014 the national debt. A top investor thinks he\u2019s the \u2018worst-spending president in history\u2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#website\",\"url\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/\",\"name\":\"Cross Country Moving Team\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#\\\/schema\\\/person\\\/1b8121bfb9a1c55d1fff3fca675fceaa\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\\\/\\\/crosscountrymovingteams.com\"],\"url\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Trump broke his promise to lower \u2014 and eliminate \u2014 the national debt. A top investor thinks he\u2019s the \u2018worst-spending president in history\u2019 - Cross Country Moving Team","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/crosscountrymovingteams.com\/?p=4450","og_locale":"en_US","og_type":"article","og_title":"Trump broke his promise to lower \u2014 and eliminate \u2014 the national debt. A top investor thinks he\u2019s the \u2018worst-spending president in history\u2019 - Cross Country Moving Team","og_description":"\"The number one job of the President is to get the deficit under control,\u201d Jason Calacanis wrote in a post on X.","og_url":"https:\/\/crosscountrymovingteams.com\/?p=4450","og_site_name":"Cross Country Moving Team","article_published_time":"2026-07-29T06:39:58+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/crosscountrymovingteams.com\/?p=4450#article","isPartOf":{"@id":"https:\/\/crosscountrymovingteams.com\/?p=4450"},"author":{"name":"admin","@id":"https:\/\/crosscountrymovingteams.com\/#\/schema\/person\/1b8121bfb9a1c55d1fff3fca675fceaa"},"headline":"Trump broke his promise to lower \u2014 and eliminate \u2014 the national debt. A top investor thinks he\u2019s the \u2018worst-spending president in history\u2019","datePublished":"2026-07-29T06:39:58+00:00","mainEntityOfPage":{"@id":"https:\/\/crosscountrymovingteams.com\/?p=4450"},"wordCount":773,"commentCount":0,"image":{"@id":"https:\/\/crosscountrymovingteams.com\/?p=4450#primaryimage"},"thumbnailUrl":"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/e5ff3433e119e215f21cb11f8acd3542.webp","articleSection":["national debt"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/crosscountrymovingteams.com\/?p=4450#respond"]}]},{"@type":"WebPage","@id":"https:\/\/crosscountrymovingteams.com\/?p=4450","url":"https:\/\/crosscountrymovingteams.com\/?p=4450","name":"Trump broke his promise to lower \u2014 and eliminate \u2014 the national debt. A top investor thinks he\u2019s the \u2018worst-spending president in history\u2019 - Cross Country Moving Team","isPartOf":{"@id":"https:\/\/crosscountrymovingteams.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/crosscountrymovingteams.com\/?p=4450#primaryimage"},"image":{"@id":"https:\/\/crosscountrymovingteams.com\/?p=4450#primaryimage"},"thumbnailUrl":"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/e5ff3433e119e215f21cb11f8acd3542.webp","datePublished":"2026-07-29T06:39:58+00:00","author":{"@id":"https:\/\/crosscountrymovingteams.com\/#\/schema\/person\/1b8121bfb9a1c55d1fff3fca675fceaa"},"breadcrumb":{"@id":"https:\/\/crosscountrymovingteams.com\/?p=4450#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/crosscountrymovingteams.com\/?p=4450"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/crosscountrymovingteams.com\/?p=4450#primaryimage","url":"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/e5ff3433e119e215f21cb11f8acd3542.webp","contentUrl":"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/07\/e5ff3433e119e215f21cb11f8acd3542.webp","width":1200,"height":600},{"@type":"BreadcrumbList","@id":"https:\/\/crosscountrymovingteams.com\/?p=4450#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/crosscountrymovingteams.com\/"},{"@type":"ListItem","position":2,"name":"Trump broke his promise to lower \u2014 and eliminate \u2014 the national debt. A top investor thinks he\u2019s the \u2018worst-spending president in history\u2019"}]},{"@type":"WebSite","@id":"https:\/\/crosscountrymovingteams.com\/#website","url":"https:\/\/crosscountrymovingteams.com\/","name":"Cross Country Moving Team","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/crosscountrymovingteams.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/crosscountrymovingteams.com\/#\/schema\/person\/1b8121bfb9a1c55d1fff3fca675fceaa","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","caption":"admin"},"sameAs":["http:\/\/crosscountrymovingteams.com"],"url":"https:\/\/crosscountrymovingteams.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=\/wp\/v2\/posts\/4450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4450"}],"version-history":[{"count":0,"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=\/wp\/v2\/posts\/4450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=\/wp\/v2\/media\/4449"}],"wp:attachment":[{"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}