McRocket
Gold Member
- Apr 4, 2018
- 5,031
- 707
- 275
- Banned
- #1
'The U.S. deficit grew by $222 billion from this time last year — reaching a total of $895 billion, according to the nonpartisan Congressional Budget Office.
Why it matters: This increase was due mostly to the new Republican tax law and Congress' routine decision to increase spending, which grew by 7% compared to revenue growth of only 1%. The CBO now says the deficit will approach $1 trillion by the end of this fiscal year, but in April the agency didn’t expect the deficit to reach $1 trillion until 2020.'
U.S. expects to hit $1 trillion deficit earlier than planned
This is absolutely ridiculous. I don't care who is in power - there is no excuse WHATSOEVER for running up such a gigantic deficit during peacetime...NONE.
When you pass a big tax cut, you then pass a big spending cut to match. And IF the economy grows to raise revenues, then (and only then) do you raise spending back up to pre-tax cut levels. It's friggin' common sense.
Only a moron cuts taxes without cutting spending to match during peacetime.
Why it matters: This increase was due mostly to the new Republican tax law and Congress' routine decision to increase spending, which grew by 7% compared to revenue growth of only 1%. The CBO now says the deficit will approach $1 trillion by the end of this fiscal year, but in April the agency didn’t expect the deficit to reach $1 trillion until 2020.'
U.S. expects to hit $1 trillion deficit earlier than planned
This is absolutely ridiculous. I don't care who is in power - there is no excuse WHATSOEVER for running up such a gigantic deficit during peacetime...NONE.
When you pass a big tax cut, you then pass a big spending cut to match. And IF the economy grows to raise revenues, then (and only then) do you raise spending back up to pre-tax cut levels. It's friggin' common sense.
Only a moron cuts taxes without cutting spending to match during peacetime.
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