Since Donald Trump took over as the president of the United States, he has set many records. But, what he just accomplished is something no other president in United States history has done.
Trump has managed to significantly reduce the federal debt. When he 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 17, 2017, he debt has been decreased by more than $100 Billion to $19,845,188,460,167. This is something no other president has done.
However, many might say that 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. But, we did an analysis that showed this is not true.
The US Treasury at Treasurydirect.gov. confirmed that Congress did push Clinton into signing a balanced budget but the amount of US debt during this period actually increased.
The US Government Accountability Office (GAO) has performed audits of the US Debt amounts since 1997 and their analysis showed that since the tear their audits began, the amount of US Debt has increased with some insignificant decreases in the years 1999, 2000 and 2001.
With all these information, it’s clear as day 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.
The last time there was a significant decrease in the debt was back when Republican Eisenhower was President in 1957 and 1958. He managed to 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. Still, Trump is the only president ever that has cut the amount of US Debt by $100 Billion.
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