Trump’s boastful claims about the economy and his administration’s impact on budget deficits and national debt.

During CNN’s presidential debate, the economy was a key issue with Joe Biden highlighting the economic challenges the country was facing, while Trump boasted about the state of the economy during his time in office. However, despite Trump’s claims that everything was going well economically and that the U.S. was on track to pay down its national debt before the pandemic, these statements were not entirely accurate.

In fact, budget deficits were actually increasing under his administration due to the 2017 tax cuts not generating enough revenue as promised. The budget deficit increased significantly during Trump’s time in office, reaching over $3 trillion in 2020 after the pandemic hit. This contradicts Trump’s assertion that the economy was in a good position before the pandemic.

A May Gallup poll found that about 3 in 10 Americans identified the economy as the most important issue facing the country, although this encompassed a wide range of economic concerns. Additionally, about 1 in 1 Americans specifically mentioned high cost of living or inflation as top concerns. Immigration and poor government leadership were also cited as significant problems by 2 in 10 Americans each.

Both candidates made factual errors during