I know enough about deficits to know that Trump's
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Posted On: 01/12/2017 1:48:30 PM
I know enough about deficits to know that Trump's economic and tax plan is heedless of them.
There is a difference between the necessary deficit spending to recover from a deep recession on the brink of a depression, and what Trump proposes.
Stupid is not knowing the differences between the two.
And willful ignorance is not reading and understanding the analyses of Trump's tax and spending plans.
There is a difference between the necessary deficit spending to recover from a deep recession on the brink of a depression, and what Trump proposes.
Stupid is not knowing the differences between the two.
And willful ignorance is not reading and understanding the analyses of Trump's tax and spending plans.
Quote:
GOP and Trump put deficit on back burner
Giant infrastructure plan, major tax cut on the agenda — and so is a huge increase in the debt.
By Ben Weyl | 11/15/16 05:05 AM EST
http://www.politico.com/story/2016/11/deficit...ans-231372
A serious case of *fiscal amnesia may soon be sweeping the GOP. *Double standards and hypocrisy. LOL!
For eight years, Republicans hammered President Barack Obama for exploding the national debt. But now a GOP-led spending spree is coming, with Donald Trump riding to the White House on trillion-dollar promises and a Republican Congress that looks likely to do his bidding.
It’s a potential echo of the last time Republicans ran Washington, when then-Vice President Dick Cheney memorably remarked, “Deficits don’t matter.” .
Trump campaigned heartily on a spending splurge and nothing he’s said since his shocking election suggests he will reverse course. Republican leaders on Capitol Hill, meanwhile, are papering over divisions with the man who frequently tossed party orthodoxy aside on the trail.
“There is now a real risk that we will see an onslaught of deficit-financed goodies — tax cuts, infrastructure spending, more on defense — all in the name of stimulus, but which in reality will massively balloon the debt,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget.
The non-partisan group estimated Trump’s campaign proposals would increase the national debt by a whopping $5.3 trillion over the next decade. That would make the debt as a share of the economy rise from nearly 77 percent to 105 percent, a potentially dangerous level for the government.
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