America’s debt is stuck on an upward trajectory after decades of Congresses and Presidents locking in more spending than America had funds for. But President Trump has a plan to use tariffs to pay down that debt.
In response to a recent question about tariffs, the President said, “The purpose of what I’m doing is primarily to pay down debt, which will happen in very large quantity.”
.@POTUS on tariff revenues: “The purpose of what I’m doing is primarily to pay down debt, which will happen in very large quantity — but I think there’s also a possibility that we’re taking in so much money that we may very well make a dividend to the people of America.” pic.twitter.com/d7rytilc37
— Rapid Response 47 (@RapidResponse47) August 5, 2025
Treasury Secretary Scott Bessent recently touted the Trump administration’s deficit reduction efforts. He wrote:
The budget deficit began to shrink dramatically beginning in the second quarter of this year when there was no overlap with the Biden administration. From April to September, the cumulative deficit totaled just $468 billion. This is the lowest reading since 2019 and is down nearly 40% from the comparable period last year when Biden was spending recklessly.
Today, President Trump is putting the U.S. financial system on solid footing. Revenues are soaring and government spending is under control. Democrats think they can undo the important progress the President has made by shutting down the government. But they will not succeed.
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