Trump has driven up the national debt

The argument

Proponents of this position argue that Donald Trump should be judged against the commitment he himself made, and that on that measure the record is one of reversal. He ran for election on a promise to reduce the national debt. On his watch, they contend, the national debt instead spiralled out of control, rising by $3 trillion in just three years, while the federal deficit grew to the fifth-highest level in US history. The promise matters to the argument because it establishes the standard: this is not an external benchmark imposed by critics but the objective the administration set for itself. The explanation offered is a straightforward account of the two sides of a budget. On the revenue side, Trump's tax cuts led to lower corporation tax receipts for the Treasury, so less money came in than would otherwise have done. On the expenditure side he increased spending, particularly on the military, so more money went out. Crucially, proponents note, he did not raise taxes to pay for that additional spending. Reducing receipts while expanding outlays and declining to close the gap leaves only borrowing to cover the difference, which is what accumulates as debt. The force of the argument lies in that mechanism rather than in the figures alone. A rising debt can be defended as the product of circumstances outside an administration's control, but on this account the increase follows from choices the administration made — the particular tax cuts enacted, the particular spending authorised, and the decision not to fund the latter. Because he drove up the national debt through his own policies while having promised to reduce it, proponents conclude that Donald Trump has been a bad president.

Premises

Counter-arguments

Prior to the current COVID-19 related global recession, the USA economy under Donald Trump's presidency was considered at its strongest since the 2008 Financial Crisis. In January 2020 unemployment figures in the USA were at a half a century low and unemployment amongst African-Americans and Hispanic Americans in September 2019 hit the lowest point since records began. Under Trump the US Stock Market hit record highs responding to his administration's tax cuts and business friendly policies. The US Stock Market closed out 2019 with record gains for key US Stocks including the Dow Jones being up by 23 per cent, the S&P 500 index up by 29 per cent, and the Nasdaq Composite up by 36 per cent .

Rejecting the premises

[Rejecting P2] Trump has been good for the economy.