BipolarFuk
Demoted
- Joined
- Apr 7, 2013
- Messages
- 11,464
Trump's 2017 tax cut bears much of the blame for expanding the deficit, along with sharp increases in spending for both the Pentagon and domestic agencies and the growing federal retirement costs of the baby boom generation. Promises that the tax cut would stir so much economic growth that it would mostly pay for itself have been proved woefully wrong.
Trump's upcoming budget, however, won't address any of the main factors behind the growing, intractable deficits that have driven the U.S. debt above $22 trillion. Its most striking proposed cuts — to domestic agency operations — were rejected when Tea Party Republicans controlled the House, and they face equally grim prospects now that Democrats are in the majority.
https://www.foxnews.com/politics/wh-economic-adviser-larry-kudlow-promises-big-cuts-in-domestic-spending-for-2020-budget
Trump's upcoming budget, however, won't address any of the main factors behind the growing, intractable deficits that have driven the U.S. debt above $22 trillion. Its most striking proposed cuts — to domestic agency operations — were rejected when Tea Party Republicans controlled the House, and they face equally grim prospects now that Democrats are in the majority.
https://www.foxnews.com/politics/wh-economic-adviser-larry-kudlow-promises-big-cuts-in-domestic-spending-for-2020-budget