Trump’s Own Administration Projects His Policies Will Make Our National Deficit Skyrocket
July 18, 2018
Trump and Republicans have repeatedly lied about the impact of their policies and how the Trump tax law would pay for itself. Now, even Trump’s own administration had to admit the truth: Trump and Republican policies are causing our national deficit and debt to skyrocket.
THEN: Republicans promised the Trump tax law would pay for itself, and last month Trump’s top economic adviser said the deficit is “coming down rapidly.”
Associated Press: “The administration had promised the cuts would pay for themselves.”
CNBC: “Larry Kudlow says ‘the deficit’ is ‘coming down, and it’s coming down rapidly.’”
NOW: The White House’s own revised projections now show the national deficit surpassing $1 trillion next year, and debt hitting $25 trillion in 2021.
The Hill: “The White House’s midyear budget projections see federal deficits surpassing $1 trillion in 2019.”
Bloomberg’s Steven Dennis: “Federal debt will hit $25 Trillion in fiscal 2021 – four full fiscal years after Trump took office – under his OMB's own estimates.”
IT GETS WORSE: Trump and House Republicans are pushing for another round of tax cuts which would push the deficit and debt even higher.
Reuters: “The nonpartisan Congressional Budget Office has already warned that making permanent the temporary cuts would further expand the federal deficit and debt. Both measures of red ink increased with the Republicans’ $1.5 trillion December tax cuts package and a $1.3 trillion bipartisan spending bill in March.”