Rising price of paying national debt is a risk for Trump’s promises on growth and inflation

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Rising price of paying national debt is a risk for Trump’s promises on growth and inflation - Business Mirror

Quick Summary:

WASHINGTON—Donald Trump has big plans for the economy—and a big debt problem that will be a hurdle to delivering on them.

Russell Vought, the White House budget director during Trump’s first term and Trump’s choice to lead it again, put out an alternative proposed budget for 2023 with more than $11 trillion in spending cuts over 10 years in order to potentially generate a surplus.

The debt service costs along with the higher total debt complicate Trump’s efforts to renew his 2017 tax cuts, much of which are set to expire after next year.