The American dollar could become worthless someday, warned a host from “Morning Joe.” During a show on Thursday, Joe Scarborough focused on President Donald Trump after a Treasury report showed the U.S.federal debt has reached an all-time high of $40 trillion.
Scarborough and co-anchor Willie Geist talked about the huge number, pointing out that Trump had promised to cut spending and get the country’s finances in order.
But so far, those promises haven’t come true.
Scarborough said Trump’s actions have made a big part of the national debt, according to a report from Reuters.
The report said the debt went up by $7.8 trillion during Trump’s first term and $3.8 trillion since his second term started.
He added, “We have a $40 trillion debt, and Trump is responsible for between 25% and 30% of that.”
Later, Scarborough compared Trump’s economic record to that of other U.S.
presidents to put the number into perspective.
“It took over 210 years for all those presidents — from George Washington to Bill Clinton — to make that much debt together.
Trump did it by himself,” he said.“It’s incredible.”
He also gave a shocking example: “If you made $1 million every day to pay off the national debt, you would need to work for 109,589 years.
That’s 20 times longer than recorded history.”
Although financial experts usually blame both Republicans and Democrats for the country’s growing debt, many say Trump’s policies have made things worse.
His efforts to cut spending have not been successful.
Earlier this month, the Treasury Department returned about $100 billion in import taxes after the Supreme Court ruled against many of Trump’s emergency tariffs.
In July, Defense Secretary Pete Hegseth said the war with Iran was costing about $37.5 billion.
Despite this, the Trump administration has kept defending the president’s record.
“President Trump promised to fix the fiscal mess left by Joe Biden,” said White House spokesperson Kush Desai.
“That’s why the Trump administration has been working to cut waste, fraud, and abuse in federal spending while boosting economic growth to get the debt-to-GDP ratio back on track.”
Scarborough, however, warned that if the government doesn’t act soon, the situation could get worse.
“The American dollar will be worthless at some point if these politicians in Washington, D.C., keep pushing us deeper into debt,” he said.
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