The Jury Talks Back

10/15/2018

Reminder: Our Deficit and Debt Are Exploding Under Donald Trump

Filed under: Uncategorized — Patterico @ 9:40 pm

New York Times:

The federal budget deficit swelled to $779 billion in fiscal year 2018, the Treasury Department said on Monday, driven in large part by a sharp decline in corporate tax revenues after the Trump tax cuts took effect.

The deficit rose nearly 17 percent year over year, from $666 billion in 2017. It is now on pace to top $1 trillion a year before the next presidential election, according to forecasts from the Trump administration and outside analysts. The deficit for the 2018 fiscal year, which ended Sept. 30, was the largest since 2012, when the economy and federal revenues were still recovering from the depths of the recession.

Administration officials attributed the deficit’s rise to greater federal spending, including the military and domestic budget increases that President Trump approved this year, not the $1.5 trillion tax cut.

I know: nobody cares when it’s Trump doing it. Still, it’s infuriating to the small handful of us who still care about such things.

Oh, by the way:

Candidate Donald Trump, April 2, 2016:

DT: We’ve got to get rid of the $19 trillion in debt.

BW: How long would that take?

DT: I think I could do it fairly quickly, because of the fact the numbers . . . .

BW: What’s fairly quickly?

DT: Well, I would say over a period of eight years.

It’s now $21.6 trillion, and ballooning like mad under Trump.

1 Comment »

  1. This issue is my biggest complaint against Trump. I’ve always been a fiscal hawk, and I’ll decry any budget busting politicians, no matter the party.

    Comment by Arizona CJ — 10/15/2018 @ 10:25 pm

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