gotsnowgotslush
skates like Eck
- Joined
- Dec 24, 2007
- Posts
- 25,720
tRump added a trillion dollars of National Debt
The federal budget deficit has surged to $779 billion in fiscal 2018, its highest level in six years as President Donald Trump’s tax cuts caused the government to borrow more heavily in order to cover its spending.
The Treasury Department said Monday that the deficit climbed $113 billion from fiscal 2017. Debt will likely worsen in the coming years with the Trump administration expecting the deficit to top $1 trillion in 2019, nearly matching the $1.1 trillion imbalance from 2012.
https://www.pbs.org/newshour/econom...es-to-highest-level-in-6-years-at-779-billion
President Trump's $1.5 trillion tax cut took effect in January, just three months into the spending year.
https://www.pbs.org/newshour/show/why-the-federal-deficit-is-rising-despite-economic-growth
Two tax breaks for the ultra-wealthy, will result in debt for our nation.
Did the ultra-wealthy invest their windfalls back into the American economy ?
The tRump Tax Scam
The tRump Tax Scam, Phase II
When the Trump tax cut was on the verge of being enacted, I called it “the biggest tax scam in history,” and made a prediction: deficits would soar, and when they did, Republicans would once again pretend to care about debt and demand cuts in Medicare, Medicaid and Social Security.
Sure enough, the deficit is soaring. And this week Mitch McConnell, the Senate majority leader, after declaring the surge in red ink “very disturbing,” called for, you guessed it, cuts in “Medicare, Social Security and Medicaid.” He also suggested that Republicans might repeal the Affordable Care Act — taking away health care from tens of millions — if they do well in the midterm elections.
https://www.nytimes.com/2018/10/18/...on=CompanionColumn&contentCollection=Trending
The federal budget deficit has surged to $779 billion in fiscal 2018, its highest level in six years as President Donald Trump’s tax cuts caused the government to borrow more heavily in order to cover its spending.
The Treasury Department said Monday that the deficit climbed $113 billion from fiscal 2017. Debt will likely worsen in the coming years with the Trump administration expecting the deficit to top $1 trillion in 2019, nearly matching the $1.1 trillion imbalance from 2012.
https://www.pbs.org/newshour/econom...es-to-highest-level-in-6-years-at-779-billion
President Trump's $1.5 trillion tax cut took effect in January, just three months into the spending year.
https://www.pbs.org/newshour/show/why-the-federal-deficit-is-rising-despite-economic-growth
Two tax breaks for the ultra-wealthy, will result in debt for our nation.
Did the ultra-wealthy invest their windfalls back into the American economy ?
The tRump Tax Scam
The tRump Tax Scam, Phase II
When the Trump tax cut was on the verge of being enacted, I called it “the biggest tax scam in history,” and made a prediction: deficits would soar, and when they did, Republicans would once again pretend to care about debt and demand cuts in Medicare, Medicaid and Social Security.
Sure enough, the deficit is soaring. And this week Mitch McConnell, the Senate majority leader, after declaring the surge in red ink “very disturbing,” called for, you guessed it, cuts in “Medicare, Social Security and Medicaid.” He also suggested that Republicans might repeal the Affordable Care Act — taking away health care from tens of millions — if they do well in the midterm elections.
https://www.nytimes.com/2018/10/18/...on=CompanionColumn&contentCollection=Trending
