The national debt is still growing.
Here is the federal budget:
The federal deficit has been falling and is projected to fall further (table S-1).
But the burden of the government on the economy is its expenditures, which continue to rise (table S-5). The size of the deficit is a secondary matter. It’s being reduced by raising taxes. If it were being reduced by cutting expenditures, then it would be significantly beneficial for the economy.
The merchandize trade deficit has nothing to do with the health of the economy. It merely reflects the different preferences people around the world have for goods, services, capital investments, and money holdings. When taking all factors into account, the balance of payments accounts always balance.
Click on “”U.S. International Transactions, 1960-Present” under “Balance of Payments (International Transactions)” to see the data.