August 20, 2017
It’s Now Official – No President in US History has Cut More from the US Federal Debt for a Longer Period of Time than President Donald J. Trump.
President Trump now can claim the longest and largest decrease of US Federal Debt in US history.
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.
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.