Economists Blame $40 Trillion Debt Milestone on Two Things: GOP Ineptitude and Tax Cuts for the Rich

“There is one point that should be very clear: It has been run up almost entirely due to Republican tax cuts and their inept management of the economy.”

Image: US President Donald Trump, joined by Republican lawmakers, signs the One Big Beautiful Bill Act into law on July 4, 2025 in Washington, DC. (Photo by Eric Lee/Getty Images)

Jake Johnson of Common Dreams reports: “Congressional Republicans have seized upon news that the US national debt reached $40 trillion to bash what they described as “unaffordable socialist policies” and out-of-control spending.

But economists and policy analysts say Republican policy decisions—from massive tax cuts for the rich to disastrous wars of choice in the Middle East—are primarily responsible for the explosion of the national debt over the past quarter-century. President Donald Trump, who has repeatedly promised to eliminate the national debt, has so far overseen an $11.6 trillion debt surge across his two White House terms…”

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