AP FACT CHECK: US debt is not made in China
WASHINGTON (AP) — An AP Fact Check finds that President Donald Trump is misplacing blame for the U.S. national debt.
He says it’s from the trade deficit. But that’s not why the U.S. is swimming in a sea of red ink.
The national debt is accumulated from budget deficits year after year, when the federal government must borrow because it spends more than it collects in taxes. The total public debt outstanding is $19.8 trillion.
It’s not driven by the trade imbalance.