Even though media commentators question President Donald Trump’s ambitious second-term economic policies, the data from the Treasury Department tells a different story that Trump’s critics are likely to ignore.
In the face of huge resistance from Washington and globalists, the Trump government has made strides to reduce the federal debt.
The rate at which the national debt — mainly borrowed from outside sources — has been rising since President Biden’s term is much slower since his second inauguration in January than in former President Biden’s last period.
The Washington Examiner looked into data and found that public debt increased by around $37 billion from January 22 to May 6 this year. In the same year, 2024, under Biden’s presidency, the total had risen by much more than $478 billion. To put it simply, debt growth practically stopped, giving near-perfect credit to Trump’s plan to cut down federal overspending.
Although the $5.5 billion in total debt reduction does not seem like much compared to the nation’s $26.2 trillion debt, the way things are changing is more important.
The move comes as Biden is having to contend with economic decisions that are very different from what he believes.
Not long after, on April 8th, Trump put forward a 10% levy on all products imported into the nation, calling it “Liberation Day.” As per the International Emergency Economic Powers Act, the White House upped the tariffs on items imported from China, so the actual rate became 54%. The idea behind this is to multiply American manufacturing at home, support workers, and correct long-neglected trade deals.
Investors were alerted to possible problems with the economy, which led to some changes in the financial markets. Analysts show that middle-income families may lose 6% from their long-term GDP, see their income drop by 5%, and end up paying an additional $22,000.
But Trump is not giving up, saying that the speed bumps are worth the bigger goal of being independent from other nations.
Contrary to normal Republican expectations, Trump has spoken out for higher taxes on the super-rich.
The plan asks people with more than $2.5 million in income and families with more than $5 million to pay higher taxes, and also removes a carried-interest loophole that is predicted to raise $350 billion to $450 billion over years.
The recent trade agreement between the USA and the United Kingdom, signed by Trump, helped increase the economic performance of his administration. As a result of the pact, UK steel and vehicle tariffs drop, and the UK takes in more US agricultural and industrial goods as imports.
The US is showing it is ready to work with allies at the same time it targets foes such as China.
When all the data are looked at side by side, they make a strong point. According to the early budget numbers, Trump’s approach of being tough on trade, setting precise tax policies, and cutting unnecessary spending appears to bear results.
This happens as Trump’s approval ratings are almost as high as ever.
Trump’s approval rating went up to 53 percent this week, according to a poll done by J.L. Partners and the Daily Mail, four points higher than the previous week’s 49 percent.
More specifically, Trump’s approval rating among voters between 18 and 29 has risen by an amazing 13 points.
The findings mean Trump is capitalizing on the higher support the generation gave him back in 2020, as he gained votes from them by double digits in the November presidential election.
According to the study, there was a six-point increase in the president’s support rating among registered Democrats and independents.
There has been a 17-point boost in the president’s favorability among black voters since the previous week’s survey.
On the 100th day of his presidency, business leaders are saying that things are looking better for the economy and praise Trump for his early achievements, despite it still not showing winning signs.
