The U.S. government has not had a balanced budget since 2001, and over the last two decades, the national debt has ballooned to unsustainable levels. The clearest path to paying down the national debt will involve both raising government revenue and reducing government spending — and while some policies of the new Trump administration appear to align with this approach, others do not.
24/7 Wall St. Key Points:
Decades of deficit spending have pushed the U.S. national debt to unprecedented levels.
In the early months of the second Trump presidency, many Americans have positive views of the administration’s debt reduction strategies.
Through the newly created Department of Government Efficiency, headed by Tesla CEO Elon Musk, President Donald Trump is downsizing the federal workforce with the ultimate goal of cutting government spending by $1 trillion annually. In the early months of the new administration, Trump has also called for steep cuts in U.S. foreign aid, paused American military assistance to Ukraine, and ordered the end of government funding for diversity and clean energy programs. (Here is a look at the biggest geopolitical conflicts Trump will have to deal with.)
The administration’s spending cuts have, however, not yet been matched with equally earnest efforts to raise government revenue. In fact, Trump has proposed a series of tax cuts which, if enacted, could add to the national debt by anywhere from $5 trillion to $11 trillion over the next 10 years, according to the nonpartisan Committee for a Responsible Federal Budget.
The ultimate impact Trump’s policies will have on the national debt remains to be seen — but so far, most Americans appear enthusiastic about the new administration’s approach. According to recent survey data from Morning Consult, a public opinion research organization, 51% of registered voters approve of how Trump is handling the national debt, compared to 39% who disapprove. These numbers are far more conclusive than views of the administration in general, as Trump’s overall approval and disapproval ratings are much tighter, at 49.9% and 47.2%, respectively.
Still, public sentiment towards Trump’s handling of the national debt varies considerably between demographic groups — and some Americans are far more likely to have positive views of Trump’s approach to budget management than others.
Using survey data from Morning Consult, 24/7 Wall St. identified the Americans who are most likely to approve of Trump’s handling of the national debt. We reviewed polling results among multiple demographic groups and subgroups — including gender, race, religion, educational attainment, employment status and sector, income, age, voting history, and political ideology and affiliation, among others — and ranked them on the net approval rating of Trump’s handling the national debt, or the share of voters who approve of his policies less those who disapprove. All survey data was collected between Feb. 21 and Feb. 24, 2025.
Only demographic groups with which Trump has a positive net-approval rating for his handling of the national debt were included on this list. Among these 40 subsets of Americans, net-approval of Trump’s approach to reducing the national debt ranges from 0.4% to over 80%.
Not surprisingly, the strongest predictors of public opinion towards the president’s budget policies are political. The only demographic groups with which Trump’s approach to addressing the national debt has a net-approval rating of 70% or higher are Americans who identify as conservatives, registered Republicans, and Americans who voted for Trump in the 2024 election. While distinct, these groups have overlapping membership.
For other, non-political demographic categories, the survey’s findings were less obvious. Among private sector workers, Trump’s debt policies have a 22.3% net-positive favorability rating, only slightly higher than the 21.7% favorability rating among government workers. The Trump administration’s approach to the national debt is also relatively popular among Christian voters — particularly evangelicals — as well as members of both GenX and the Millennial generation. (Here is a look at what Trump’s presidency may mean for stocks.)
Why It Matters
In his first few weeks in office, Donald Trump has done more to reshape the federal government than any president in recent history — and many actions taken by the new administration have been carried out with an eye towards reducing the national debt. While many Americans disagree with Trump’s policies, or are concerned over the rapid pace of change in Washington, D.C., certain demographic groups are more likely to have a positive view of Trump’s efforts to reign in government spending.
40. Residents of urban communities
Net-approval rating of Trump’s handling of the national debt among demographic group: +0.4%
Share of demographic group who approve of Trump’s handling of the national debt: 44.5% (27.1% strongly approve; 17.4% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 44.2% (35.4% strongly disapprove; 8.8% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 11.3%
Trump’s overall, net-approval rating among demographic group: -7.9% (45.1% approve, 53.0% disapprove, 2.0% have no opinion)
39. Workers earning less than $50,000 per year
Net-approval rating of Trump’s handling of the national debt among demographic group: +1.1%
Share of demographic group who approve of Trump’s handling of the national debt: 44.5% (28.5% strongly approve; 16.0% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 43.4% (35.1% strongly disapprove; 8.3% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 12.1%
Trump’s overall, net-approval rating among demographic group: -7.1% (44.7% approve, 51.9% disapprove, 3.4% have no opinion)
Net-approval rating of Trump’s handling of the national debt among demographic group: +8.0%
Share of demographic group who approve of Trump’s handling of the national debt: 50.7% (33.5% strongly approve; 17.2% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 42.7% (34.7% strongly disapprove; 8.0% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 6.6%
Trump’s overall, net-approval rating among demographic group: -2.0% (48.2% approve, 50.3% disapprove, 1.5% have no opinion)
28. Residents of suburban communities
Net-approval rating of Trump’s handling of the national debt among demographic group: +10.0%
Share of demographic group who approve of Trump’s handling of the national debt: 50.2% (30.5% strongly approve; 19.7% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 40.2% (30.5% strongly disapprove; 9.7% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 9.6%
Trump’s overall, net-approval rating among demographic group: -1.1% (47.6% approve, 48.7% disapprove, 3.8% have no opinion)
27. Adults without a college education
Net-approval rating of Trump’s handling of the national debt among demographic group: +11.1%
Share of demographic group who approve of Trump’s handling of the national debt: 49.8% (31.7% strongly approve; 18.0% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 38.7% (31.5% strongly disapprove; 7.2% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 11.5%
Trump’s overall, net-approval rating among demographic group: +2.0% (49.4% approve, 47.4% disapprove, 3.2% have no opinion)
26. Adults with a bachelor’s degree
Net-approval rating of Trump’s handling of the national debt among demographic group: +11.4%
Share of demographic group who approve of Trump’s handling of the national debt: 51.4% (31.4% strongly approve; 20.1% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 40.0% (26.9% strongly disapprove; 13.2% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 8.5%
Trump’s overall, net-approval rating among demographic group: +3.0% (50.3% approve, 47.2% disapprove, 2.5% have no opinion)
25. All registered voters
Net-approval rating of Trump’s handling of the national debt among demographic group: +11.8%
Share of demographic group who approve of Trump’s handling of the national debt: 50.9% (32.3% strongly approve; 18.6% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 39.1% (30.2% strongly disapprove; 8.9% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 10.0%
Trump’s overall, net-approval rating among demographic group: +2.8% (49.9% approve, 47.2% disapprove, 2.9% have no opinion)
24. Americans in the 45-64 age group
Net-approval rating of Trump’s handling of the national debt among demographic group: +12.3%
Share of demographic group who approve of Trump’s handling of the national debt: 51.3% (33.6% strongly approve; 17.6% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 38.9% (31.1% strongly disapprove; 7.8% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 9.8%
Trump’s overall, net-approval rating among demographic group: +0.3% (48.5% approve, 48.1% disapprove, 3.4% have no opinion)
23. Americans living in the Northeast
Net-approval rating of Trump’s handling of the national debt among demographic group: +13.2%
Share of demographic group who approve of Trump’s handling of the national debt: 51.6% (31.8% strongly approve; 19.8% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 38.4% (29.3% strongly disapprove; 9.1% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 9.9%
Trump’s overall, net-approval rating among demographic group: +3.3% (51.1% approve, 47.8% disapprove, 1.1% have no opinion)
22. Americans in the 35-44 age group
Net-approval rating of Trump’s handling of the national debt among demographic group: +13.3%
Share of demographic group who approve of Trump’s handling of the national debt: 52.1% (31.0% strongly approve; 21.1% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 38.8% (30.6% strongly disapprove; 8.2% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 9.1%
Trump’s overall, net-approval rating among demographic group: +2.2% (49.8% approve, 47.6% disapprove, 2.5% have no opinion)
21. Americans in the 18-34 age group
Net-approval rating of Trump’s handling of the national debt among demographic group: +13.8%
Share of demographic group who approve of Trump’s handling of the national debt: 49.9% (30.4% strongly approve; 19.5% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 36.1% (24.6% strongly disapprove; 11.5% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 14.0%
Trump’s overall, net-approval rating among demographic group: +10.8% (53.5% approve, 42.8% disapprove, 3.7% have no opinion)
20. Adults with a post-graduate degree
Net-approval rating of Trump’s handling of the national debt among demographic group: +15.3%
Share of demographic group who approve of Trump’s handling of the national debt: 54.8% (36.5% strongly approve; 18.3% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 39.5% (30.2% strongly disapprove; 9.3% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 5.7%
Trump’s overall, net-approval rating among demographic group: +5.3% (51.6% approve, 46.3% disapprove, 2.1% have no opinion)
19. Workers earning between $50,000 and $100,000 per year
Net-approval rating of Trump’s handling of the national debt among demographic group: +15.8%
Share of demographic group who approve of Trump’s handling of the national debt: 53.0% (35.0% strongly approve; 18.0% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 37.3% (27.5% strongly disapprove; 9.8% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 9.7%
Trump’s overall, net-approval rating among demographic group: +8.2% (52.6% approve, 44.4% disapprove, 2.9% have no opinion)
18. White Americans
Net-approval rating of Trump’s handling of the national debt among demographic group: +16.8%
Share of demographic group who approve of Trump’s handling of the national debt: 54.4% (34.3% strongly approve; 20.1% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 37.6% (28.8% strongly disapprove; 8.8% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 8.0%
Trump’s overall, net-approval rating among demographic group: +11.5% (54.6% approve, 43.1% disapprove, 2.3% have no opinion)
17. GenXers, born between 1965-1980
Net-approval rating of Trump’s handling of the national debt among demographic group: +16.8%
Share of demographic group who approve of Trump’s handling of the national debt: 53.3% (34.2% strongly approve; 19.2% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 36.5% (30.0% strongly disapprove; 6.4% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 10.2%
Trump’s overall, net-approval rating among demographic group: +3.7% (50.0% approve, 46.2% disapprove, 3.8% have no opinion)
16. Self-employed workers
Net-approval rating of Trump’s handling of the national debt among demographic group: +16.8%
Share of demographic group who approve of Trump’s handling of the national debt: 52.6% (35.8% strongly approve; 16.8% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 35.7% (25.7% strongly disapprove; 10.0% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 11.7%
Trump’s overall, net-approval rating among demographic group: +8.2% (52.0% approve, 43.7% disapprove, 4.3% have no opinion)
15. Millennials, born between 1981-1996
Net-approval rating of Trump’s handling of the national debt among demographic group: +17.5%
Share of demographic group who approve of Trump’s handling of the national debt: 54.1% (33.2% strongly approve; 20.9% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 36.6% (27.0% strongly disapprove; 9.6% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 9.3%
Trump’s overall, net-approval rating among demographic group: +10.2% (53.6% approve, 43.4% disapprove, 3.0% have no opinion)
14. Americans living in the South
Net-approval rating of Trump’s handling of the national debt among demographic group: +21.3%
Share of demographic group who approve of Trump’s handling of the national debt: 55.4% (35.3% strongly approve; 20.1% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 34.1% (25.6% strongly disapprove; 8.5% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 10.5%
Trump’s overall, net-approval rating among demographic group: +11.2% (53.6% approve, 42.3% disapprove, 4.1% have no opinion)
13. Government workers
Net-approval rating of Trump’s handling of the national debt among demographic group: +21.7%
Share of demographic group who approve of Trump’s handling of the national debt: 56.7% (31.3% strongly approve; 25.4% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 35.0% (28.4% strongly disapprove; 6.6% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 8.3%
Trump’s overall, net-approval rating among demographic group: -9.4% (43.1% approve, 52.5% disapprove, 4.4% have no opinion)
12. Students
Net-approval rating of Trump’s handling of the national debt among demographic group: +21.7%
Share of demographic group who approve of Trump’s handling of the national debt: 46.8% (26.2% strongly approve; 20.6% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 25.1% (23.9% strongly disapprove; 1.2% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 28.1%
Trump’s overall, net-approval rating among demographic group: -8.8% (43.2% approve, 52.0% disapprove, 4.8% have no opinion)
11. Private sector workers
Net-approval rating of Trump’s handling of the national debt among demographic group: +22.3%
Share of demographic group who approve of Trump’s handling of the national debt: 56.7% (34.5% strongly approve; 22.2% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 34.4% (23.8% strongly disapprove; 10.7% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 8.9%
Trump’s overall, net-approval rating among demographic group: +17.3% (57.9% approve, 40.5% disapprove, 1.6% have no opinion)
10. Men
Net-approval rating of Trump’s handling of the national debt among demographic group: +22.6%
Share of demographic group who approve of Trump’s handling of the national debt: 58.1% (36.3% strongly approve; 21.8% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 35.5% (26.1% strongly disapprove; 9.4% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 6.4%
Trump’s overall, net-approval rating among demographic group: +16.4% (57.1% approve, 40.7% disapprove, 2.3% have no opinion)
9. Christians
Net-approval rating of Trump’s handling of the national debt among demographic group: +23.6%
Share of demographic group who approve of Trump’s handling of the national debt: 57.4% (37.2% strongly approve; 20.2% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 33.8% (24.4% strongly disapprove; 9.4% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 8.8%
Trump’s overall, net-approval rating among demographic group: +16.2% (57.2% approve, 40.9% disapprove, 1.9% have no opinion)
8. Residents of rural communities
Net-approval rating of Trump’s handling of the national debt among demographic group: +27.7%
Share of demographic group who approve of Trump’s handling of the national debt: 59.3% (41.6% strongly approve; 17.6% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 31.6% (24.1% strongly disapprove; 7.5% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 9.2%
Trump’s overall, net-approval rating among demographic group: +21.9% (59.9% approve, 38.0% disapprove, 2.2% have no opinion)
7. Workers earning over $100,000 per year
Net-approval rating of Trump’s handling of the national debt among demographic group: +28.2%
Share of demographic group who approve of Trump’s handling of the national debt: 61.2% (36.4% strongly approve; 24.8% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 33.0% (24.4% strongly disapprove; 8.6% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 5.9%
Trump’s overall, net-approval rating among demographic group: +15.3% (56.9% approve, 41.6% disapprove, 1.5% have no opinion)
6. Evangelical Christians
Net-approval rating of Trump’s handling of the national debt among demographic group: +45.4%
Share of demographic group who approve of Trump’s handling of the national debt: 69.0% (45.3% strongly approve; 23.6% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 23.6% (16.3% strongly disapprove; 7.2% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 7.5%
Trump’s overall, net-approval rating among demographic group: +35.2% (66.4% approve, 31.2% disapprove, 2.3% have no opinion)
5. Ideological conservatives
Net-approval rating of Trump’s handling of the national debt among demographic group: +72.6%
Share of demographic group who approve of Trump’s handling of the national debt: 83.5% (59.2% strongly approve; 24.3% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 11.0% (4.5% strongly disapprove; 6.4% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 5.5%
Trump’s overall, net-approval rating among demographic group: +72.0% (85.7% approve, 13.6% disapprove, 0.7% have no opinion)
4. Republican women
Net-approval rating of Trump’s handling of the national debt among demographic group: +76.3%
Share of demographic group who approve of Trump’s handling of the national debt: 84.7% (60.3% strongly approve; 24.4% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 8.4% (4.2% strongly disapprove; 4.2% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 6.8%
Trump’s overall, net-approval rating among demographic group: +79.5% (88.6% approve, 9.1% disapprove, 2.3% have no opinion)
3. Registered Republicans
Net-approval rating of Trump’s handling of the national debt among demographic group: +78.4%
Share of demographic group who approve of Trump’s handling of the national debt: 86.8% (59.5% strongly approve; 27.3% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 8.4% (3.1% strongly disapprove; 5.2% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 4.8%
Trump’s overall, net-approval rating among demographic group: +83.1% (90.9% approve, 7.8% disapprove, 1.3% have no opinion)
2. Americans who voted for Donald Trump in 2024
Net-approval rating of Trump’s handling of the national debt among demographic group: +80.1%
Share of demographic group who approve of Trump’s handling of the national debt: 87.0% (60.3% strongly approve; 26.6% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 6.9% (2.0% strongly disapprove; 4.8% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 6.2%
Trump’s overall, net-approval rating among demographic group: +87.4% (92.9% approve, 5.5% disapprove, 1.6% have no opinion)
1. Republican men
Net-approval rating of Trump’s handling of the national debt among demographic group: +80.3%
Share of demographic group who approve of Trump’s handling of the national debt: 88.7% (58.8% strongly approve; 29.8% somewhat approve)
Share of demographic group who disapprove of Trump’s handling of the national debt: 8.3% (2.2% strongly disapprove; 6.2% somewhat disapprove)
Share of demographic group with no opinion Trump’s handling of the national debt: 3.0%
Trump’s overall, net-approval rating among demographic group: +86.3% (93.0% approve, 6.7% disapprove, 0.3% have no opinion)
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