A billionaire-backed podcast host is taking aim at President Donald Trump over one of his biggest campaign promises, cutting the national debt.
Investor Jason Calacanis says Trump has instead presided over a historic surge in federal borrowing, putting the president's fiscal pledges under renewed scrutiny.
Trump's National Debt Promise
The U.S. national debt hit $39 trillion in March and currently stands at around $39.6 trillion. The debt has increased in recent years, instead of going down as Trump promised.
"President Trump promised not to add to the national debt during his presidential campaign, and, in fact, that he would pay it down. He has failed badly on both counts," Calacanis tweeted.
Calacanis, co-host of the "All-In Podcast," said Trump is the "worst-spending President in our history." The investor estimates that Trump added between $2.2 trillion and $2.3 trillion to the national debt in each of his first two years and in his second term.
"He's on track to add $9T+ in his second term, beating the previous high-water mark of $7.8T, set by his first term."
CNBC host Carl Quintanilla shared an image of a story from 2016 with Trump promising to eliminate US debt in eight years.
With debt at $39.6 trillion, this promise has not worked out to date.
What's Next
National debt hit $38 trillion in October 2025 and took only five months to hit $39 trillion. With increased government spending and the continued war in Iran, the debt level could hit $40 trillion faster than expected.
Interest on the debt has surpassed $1 trillion and is now around $1.04 trillion, representing one of the country’s top annual expenditures.
The debt-to-GDP ratio continues to expand, currently at 122.53% . This ratio was 56.95% in 2000 and 34.63% back in 1980.
Image via Shutterstock
