Trump Breaks Promise On National Debt: Expert Says 'He Has Failed Badly'

Chris Katje

Sun, July 26, 2026 at 6:30 PM GMT+3 4 min read

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

A billionaire-backed podcast host is taking aim at President Donald Trump over one of his biggest campaign promises — cutting the national debt.

Investor Jason Calacanis says Trump has instead presided over a historic surge in federal borrowing, putting the president's fiscal pledges under renewed scrutiny.

Trump's National Debt Promise

The U.S. national debt hit $39 trillion in March and currently stands at around $39.6 trillion. The debt has increased in recent years, instead of going down as Trump promised.

Don't Miss:

A single bad hire can set a startup back years. Here are the 5 hires founders most often misjudge — and why
Still Learning the Market? These 50 Must-Know Terms Can Help You Catch Up Fast

"President Trump promised not to add to the national debt during his presidential campaign — and, in fact, that he would pay it down. He has failed badly on both counts," Calacanis tweeted.

Calacanis, co-host of the "All-In Podcast," said Trump is the "worst-spending President in our history." The investor estimates that Trump added between $2.2 trillion and $2.3 trillion to the national debt in each of his first two years and in his second term.

"He's on track to add $9T+ in his second term, beating the previous high-water mark of $7.8T — set by his first term."

CNBC host Carl Quintanilla shared an image of a story from 2016 with Trump promising to eliminate US debt in eight years.

With debt at $39.6 trillion, this promise has not worked out to date.

What's Next

National debt hit $38 trillion in October 2025 and took only five months to hit $39 trillion. With increased government spending and the continued war in Iran, the debt level could hit $40 trillion faster than expected.

Interest on the debt has surpassed $1 trillion and is now around $1.04 trillion, representing one of the country's top annual expenditures.

The debt-to-GDP ratio continues to expand, currently at 122.53% . This ratio was 56.95% in 2000 and 34.63% back in 1980.

Image via Shutterstock

Read Next:

Skip the Regrets: The Essential Retirement Tips Experts Wish Everyone Knew Earlier.
Think you're saving enough for your kids? You might be dangerously off — see why

Building Wealth Across More Than Just the Market

Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That's why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn't tied to the fortunes of just one company or industry.

Arrived

Backed by Jeff Bezos, Arrived Homes makes real estate investing accessible with a low barrier to entry. Investors can buy fractional shares of single-family rentals and vacation homes starting with as little as $100. This allows everyday investors to diversify into real estate, collect rental income, and build long-term wealth without needing to manage properties directly.

Realberry

Institutional-quality real estate has traditionally been difficult for individual investors to access. Realberry gives accredited investors direct access to private real estate opportunities backed by a team with 35 years of experience, $3.4 billion in assets under management, and $481 million in cumulative distributions paid to investors as of Q4 2025, according to the company. With a portfolio spanning 13 million square feet across seven U.S. states, Realberry focuses on acquiring, developing, and managing real estate with an emphasis on long-term value creation while its principals often invest alongside clients to help align interests.

FarmTogether

Farmland has historically held its value through market volatility and delivered returns uncorrelated to stocks and bonds. For accredited investors, FarmTogether offers direct access to high-quality U.S. farmland starting at $15,000 — fully managed, with no landlord headaches.

Immersed

Immersed is building technology for the future of work through spatial computing. Known for its AR/VR productivity platform that enables users to work across multiple virtual screens, the company has grown to more than 1.5 million users worldwide. Immersed is also developing Visor, a lightweight headset designed specifically for professional productivity, positioning the company at the intersection of remote work, extended reality (XR), and next-generation computing.

Fundrise

Private real estate and private credit can add income and stability to a stock-heavy portfolio. Fundrise offers access to diversified private real estate and credit strategies through an easy-to-use platform, with professionally managed portfolios designed to generate passive income and long-term growth.

Mode Mobile

Mode Mobile is changing the way people interact with their phones by letting users earn money from the same apps and activities they already use every day. Instead of platforms keeping all the advertising revenue, Mode Mobile shares a portion back with users who engage with content, play games, and scroll on their devices. Named one of Deloitte's fastest-growing software companies in North America, the company has built a large beta user base and is scaling a model that turns everyday smartphone usage into a potential income stream.

EquityMultiple

For accredited investors looking beyond stocks and bonds, EquityMultiple provides access to vetted commercial real estate deals starting at $5,000, with only ~5% of opportunities passing their due diligence process.