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BenQ Lighting

Trump inheriting fiscal gauntlet

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President Trump wasted no time in getting to work on his first day in office with a range of executive orders but the fiscal house he's inheriting may prove more challenging to fix.
The article from MSN discusses the fiscal challenges that former President Donald Trump would face if he were to return to office. It highlights the significant increase in the U.S. national debt, which has risen by $7 trillion since Trump left office, now standing at $34.5 trillion. This escalation in debt is attributed to factors like the economic fallout from the global health crisis, increased government spending, and tax cuts. The piece notes that Trump's previous term was marked by tax cuts that added to the deficit, and now, with interest rates higher, the cost of servicing this debt has also increased. The article suggests that Trump's potential policies, like extending tax cuts or implementing new ones, could further exacerbate the fiscal situation. It also mentions the political difficulty of addressing the debt through spending cuts or tax increases, given the current political climate and public sentiment.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/trump-inheriting-fiscal-gauntlet/ar-AA1xExBp ]