Americans Worry About Trump’s Fiscal Policies

WASHINGTON (Reuters) – A recent Reuters/Ipsos poll reveals that most Americans believe President-elect Donald Trump will exacerbate U.S. government debt during his new term. However, Republicans generally do not share the same concerns as Democrats regarding his fiscal management.

The two-day poll, concluding on Thursday, found that 62% of respondents, including 94% of Democrats and 34% of Republicans, believe that Trump’s policies will likely increase the U.S. national debt.

Trump won the presidential election after pledging tax cuts for businesses, workers, and Social Security beneficiaries, along with imposing higher tariffs on imports and enforcing mass deportations for immigrants.

Republicans appear poised to possibly regain control of both chambers of Congress, enabling them to pursue an extensive agenda for the first time since 2017. This may involve enacting spending cuts and deregulating energy, but also raises the risk of conflicting with their long-standing objective of reducing the $35 trillion national debt.

According to the nonpartisan Committee for a Responsible Federal Budget, Trump’s proposed tax cuts could add $7.5 trillion to the nation's debt over the coming decade. The poll indicates heightened concern among Democrats about the fiscal implications of Trump’s potential policies; 89% of Democratic respondents expressed worry about increased national debt, in contrast to only 19% of Republicans.

Despite Republicans citing increased federal tax receipts since 2017 as evidence that Trump’s tax cuts have effectively raised revenue, the federal deficit has surged to $1.833 trillion in fiscal 2024, with interest payments on the debt exceeding $1 trillion for the first time.

The online poll surveyed 1,471 adults nationwide and carried a margin of error of 3 percentage points.