Trump set to break the all-time federal debt record amid inflation battle - MarketWatch

1. Trump aims to make tax cuts permanent amid rising budget deficits. 2. 2024 deficit projected at $1.9 trillion, highest except during crises. 3. Federal debt could exceed 118% of GDP by 2035, raising inflation fears. 4. Excessive deficits may hinder Fed's ability to lower interest rates. 5. Rising deficits can deter private investment, impacting economic growth.