8 sources·Politics

Challenges Ahead for Trump’s Economic Agenda Amidst Rising National Debt

Donald Trump's economic plans face hurdles from soaring national debt and proposed tax cuts, complicating fiscal strategies in his upcoming administration.

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Updated: Nov 24th, 2024, 2:04 PM ET

Summary

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President-elect Donald Trump faces significant challenges in executing his economic agenda due to the U.S. national debt surging to $36 trillion. With debt servicing costs projected to exceed $1 trillion next year, Trump's promised tax cuts and economic growth plans may be constrained. Analysts stress that high interest rates on the debt are limiting budget flexibility and putting pressure on housing costs. Additionally, Trump's administration may also potentially impact student loan policies and DEI initiatives across government and industries, a shift critics warn could undermine educational and social equity efforts.

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