While critics in the media continue to sound the alarm over President Donald Trump’s economic approach during his second term, fresh numbers from the Treasury Department are telling a very different story—one that many doubters may prefer to ignore.
Even with pushback from Washington insiders and global elites, Trump’s team has made notable strides in slowing the growth of America’s national debt.
Since taking office again in January, the increase in public debt—the portion of the national debt owed to outside lenders—has dramatically slowed. According to a report by the Washington Examiner, public debt only grew by about $37 billion from January 22 to May 6. Compare that to the same period in 2024 under President Biden, when the debt jumped over $478 billion. That’s a 92% drop in debt growth, giving a major boost to Trump’s Department of Government Efficiency efforts.
While the savings of around $5.5 billion may seem small against the towering $26.2 trillion debt total, it’s the sharp turn in direction that stands out—and that matters.
Trump’s economic game plan has clearly shifted away from Biden-era policies. In April, he introduced a 10% tariff on all imports, calling it “Liberation Day.” Using emergency powers, he also ramped up tariffs on Chinese goods, pushing their rate to 54%, aiming to rebuild American manufacturing and protect domestic jobs.
Of course, some financial experts have raised concerns. They warn that these moves could slow economic growth, cut wages, and hit middle-income families with added costs. But Trump insists the short-term pain is worth the long-term gain of reducing U.S. dependence on foreign nations.
Breaking from traditional Republican norms, Trump also proposed higher taxes on ultra-wealthy individuals and families—those earning over $2.5 million and $5 million, respectively. By closing the carried-interest loophole, his team estimates they could raise between $350 billion and $450 billion over four years.
In another bold move, Trump finalized a major trade deal with the United Kingdom, reducing tariffs on UK steel and vehicles and opening the door for more U.S. agricultural and industrial exports. It’s part of his strategy to stand strong against economic rivals like China while strengthening bonds with allies.
So far, the numbers are working in his favor. Trump’s blend of tough trade policies, tax reform, and government efficiency seems to be gaining traction—both in the budget and in public opinion.
His approval ratings are climbing. A recent J.L. Partners/Daily Mail poll shows Trump’s approval up to 53%, a four-point jump from the week before. Among younger voters (ages 18–29), his support has skyrocketed 13 points—a major gain after that group leaned heavily toward Biden in 2020.
He’s also seeing more support from Democrats, independents, and Black voters, with approval among Black voters up 17 points in just one week.
As he nears the 100-day mark of his second term, business leaders and employers are showing cautious optimism, saying the groundwork has been laid for real economic growth—even if the results are still unfolding.
In short: Whether you support him or not, the data suggests that Trump’s strategy is making waves—and possibly reshaping how Washington talks about debt and the economy.