The federal debt is a problem. This year, the United States will spend about $870 billion, or 3.1 percent of gross domestic product on interest payments on the debt. That’s more than the entire defense budget. The major reason for the huge federal debt is Trump’s and George W. Bush’s tax cuts, which together added $10 trillion to the debt since their enactment. They’re responsible for 57 percent of the increase in the ratio of the national debt to the economy since 2001. Bush and Trump tax cuts account for more than 90% of the increase in the debt ratio.