Donald Trump: "We have $21 trillion in debt … a number that is unthinkable"

A recent Oxfam report notes that the United States’ total federal debt has surpassed $40 trillion, far exceeding the $21 trillion figure President Donald Trump cited in a 2018 interview, where he called the level unimaginable and said it would soon decline. The same analysis shows the current year’s fiscal shortfall approaching $1.8 trillion with only two months remaining, implying continued borrowing that outpaces earlier independent forecasts. According to the report, the increase includes roughly $7.8 trillion added during Trump’s first term and about $4 trillion since his return to office a year and a half ago, driven in part by Republican tax cuts, the conflict in Iran and tariff policies, while bond investors have been reducing holdings amid inflation concerns. The growing debt and deficit are presented as a concern for taxpayers and financial markets.