This opinion piece by Steven Greenhouse argues that Donald Trump has broken his 2016 campaign promise to eliminate the US federal debt, which has instead climbed past $40tn during his time in office. The author contends this matters because the tax cuts driving the increase have overwhelmingly benefited wealthy individuals and corporations, while rising interest rates linked to the debt have pushed up mortgage costs and deepened America's affordability crisis for ordinary households.

The piece cites Trump's "big, beautiful bill" as expected to add $3.4tn to the debt over the next decade, with nearly half of its $4.4tn in tax cuts going to the richest 5% of Americans. Across Trump's combined terms in office, the federal debt has risen by $11.6tn, and the author notes that by the mid-2030s annual interest payments could exceed $2tn, more than double current levels and greater than this year's Pentagon budget. The article also contrasts this with debt growth under previous Republican presidents, including an 85% rise ($4.9tn) under George W Bush and a 39% rise ($7.8tn) during Trump's first term.