Donald Trump

10 Years Ago Today, Trump Promised To Eliminate the National Debt. Instead, It Has Doubled.

Trump's ridiculous, grandiose promise tells us something about the federal government's fiscal affairs and the president's approach to policy.

Eric Boehm | 3.31.2026 12:30 PM

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(Photo: Joseph Sohm/Visions of America/Newscom)

Ten years ago today, Donald Trump said he would pay off the national debt in the span of just eight years.

That did not happen. Instead, the gross national debt has doubled since that day—from about $19 trillion to over $39 trillion. Much of that additional borrowing has taken place during Trump's five-plus years in the White House.

The gap between Trump's outlandish promise and the brutal fiscal reality of the past decade is not just a political gotcha. It's also an apt illustration of how far and how fast the debt has spiraled. And it's a painful reminder of a missed opportunity that Americans will be facing for a long, long time. The bill for these 10 years of fiscal profligacy will be coming due long after Trump has finally departed from the political scene.

But it's a story that starts, as everything in politics seems to these days, with Trump.

"We're not a rich country. We're a debtor nation," is what then-candidate Trump told The Washington Post in an interview on March 31, 2016 (a full transcript was published two days later). "We've got to get rid of the $19 trillion in debt."

How long would it take to do that, asked the Post's Bob Woodward.

"Fairly quickly," Trump replied. When pressed for a more specific answer, Trump provided a........

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