Trump says US may have less debt than thought because of fraud | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Wednesday
July 23, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
WEDNESDAY, JULY 23, 2025
Trump says US may have less debt than thought because of fraud

World+Biz

Reuters
10 February, 2025, 12:00 pm
Last modified: 10 February, 2025, 12:06 pm

Related News

  • Trump accuses Obama of treason in escalating attacks over 2016 Russia probe
  • Trump strikes trade deal with Japan to cut tariffs
  • Trump releases Martin Luther King assassination files
  • Trump pledged to save Afghans. But UAE had already sent some evacuees back
  • Philippines' Marcos to meet Trump hoping to secure trade deal

Trump says US may have less debt than thought because of fraud

The United States currently has $36.2 trillion public debt outstanding, according to the US Treasury

Reuters
10 February, 2025, 12:00 pm
Last modified: 10 February, 2025, 12:06 pm
The exterior of the Marriner S Eccles Federal Reserve Board Building is seen in Washington, DC, US, June 14, 2022. REUTERS/Sarah Silbiger
The exterior of the Marriner S Eccles Federal Reserve Board Building is seen in Washington, DC, US, June 14, 2022. REUTERS/Sarah Silbiger

US President Donald Trump on Sunday said his administration was examining US Treasury debt payments for possible fraud and suggested that the country's $36 trillion debt load might not be that high.

Speaking to reporters aboard Air Force One, Trump said administration officials who have been combing through payment records in an effort to identify wasteful spending have turned their attention to the debt payments that play a central role in the global financial system.

"We're even looking at Treasuries," Trump said. "There could be a problem - you've been reading about that, with Treasuries and that could be an interesting problem."

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

He added: "It could be that a lot of those things don't count. In other words, that some of that stuff that we're finding is very fraudulent, therefore maybe we have less debt than we thought."

It was not clear whether Trump was referring to debt service or other government payments made by the Treasury Department.

The United States currently has $36.2 trillion public debt outstanding, according to the US Treasury, equal to more than 120% of GDP. Because the US government spends more money than it collects, Trump and his fellow Republicans who control Congress will have to authorize more borrowing sometime this year to avert a debt default that could have catastrophic consequences.

Trump's proposed tax cuts would add trillions of dollars more in debt, independent budget watchdogs say.

Trump has tasked Elon Musk with an ambitious overhaul of the federal government, sparking street protests in Washington and accusations that the Trump administration is breaking the law.

Musk's "Department of Government Efficiency" has disrupted operations at several federal agencies and has raised privacy and security concerns while accessing sensitive payroll and spending records.

A federal judge temporarily blocked Musk's team on Saturday from accessing government systems used to process trillions of dollars in payments, citing a risk that sensitive information could be improperly disclosed.

After the ruling, Musk said a do-not-pay list of entities that should not receive government payments should be updated at least weekly, if not daily.

Treasury Secretary Scott Bessent, a Trump appointee, said last week that Musk's team had "read only" access to the payment system, which would not give them power to make changes.

Trump's attempt to freeze wide swaths of domestic aid has been blocked in court, but project managers across the country say billions of dollars nevertheless have been withheld for clean energy and transportation projects.

Some health clinics say they have been forced to lay off staff and shutter facilities because they have not been able to access federal funding. 

Donald Trump / debt / USA

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • TBS Illustration
    Dhaka proposes third-round tariff talks on Sunday, awaits US response
  • The Government Seal of Bangladesh
    Govt mulls allowing trade unions with 20 workers, industry leaders warn of disorder
  • Photo: CA Press Wing
    Stronger stance needed on maintaining law and order: Political parties to CA

MOST VIEWED

  • Screengrab/Video collected from Facebook
    CCTV footage shows how Air Force jet nosedived after technical malfunction
  • Photo: Collected
    Bangladeshi man jailed for life in UK for murdering wife in front of their baby
  • Why Bangladesh's capital market is poised for a bull run
    Why Bangladesh's capital market is poised for a bull run
  • ISPR clarifies crashed plane was battle aircraft, not training jet
    ISPR clarifies crashed plane was battle aircraft, not training jet
  • Photo: Syed Zakir Hossain/TBS
    Secretariat protest: 75 injured in police-protester clash over edu adviser's resignation for delaying HSC rescheduling
  • Exim Bank's former chairman Nazrul Islam Majumder being taken to court on 22 July 2025. Photo: Collected
    Will repay all money if granted bail, won’t run away, ex-Exim Bank chair Nazrul tells court

Related News

  • Trump accuses Obama of treason in escalating attacks over 2016 Russia probe
  • Trump strikes trade deal with Japan to cut tariffs
  • Trump releases Martin Luther King assassination files
  • Trump pledged to save Afghans. But UAE had already sent some evacuees back
  • Philippines' Marcos to meet Trump hoping to secure trade deal

Features

Photo: Mehedi Hasan/TBS

Aggrieved nation left with questions as citizens rally to help at burn institute

20h | Panorama
Photo: TBS

Mourning turns into outrage as Milestone students seek truth and justice

14h | Panorama
Illustration: TBS

Uttara, Jatrabari, Savar and more: The killing fields that ran red with July martyrs’ blood

1d | Panorama
Despite all the adversities, girls from the hill districts are consistently pushing the boundaries to earn repute and make the nation proud. Photos: TBS

Ghagra: Where dreams rise from dust for Bangladesh women's football

2d | Panorama

More Videos from TBS

Six unidentified bodies are yet to be identified

Six unidentified bodies are yet to be identified

1h | TBS Today
32 killed in warplane crash in Milestone, live from Burn Institute

32 killed in warplane crash in Milestone, live from Burn Institute

2h | TBS Today
What information did the director of the NBPSI give about the admitted patients?

What information did the director of the NBPSI give about the admitted patients?

13h | TBS Today
India is sending specialist doctors, nurses and equipment to treat burn victims

India is sending specialist doctors, nurses and equipment to treat burn victims

3h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net