Nation’s budget deficit skyrocketing under Trump
Trump and McConnell are at it again!
Recently the Treasury Department reported the federal budget deficit rose this year to $779 billion, that’s billion — with a “B”, over the previous year. With that in mind, this is the highest deficit in six years. So much for fiscal conservancy!
A nonpartisan Congressional Budget Office has concluded that the tax cuts (which by the way do little for Americans other than the top 1 percent) have partially led to the larger jump. The tax cut, combined with Trump’s lavish spending, have the heads of economists and average Americans alike spinning. Trump has asked his cabinet to cut 5 percent out of their budget – but in reality, budget analysts are reporting this will have little effect on the deficit.
Trump wants to cut veterans, national security, law enforcement, healthcare, farmers, workers, and food/household aid – to mention a few. Mitch McConnell, on the other hand, wants to cut Medicare, Medicaid, and Social Security. Really – put the tax break on the backs of retired people who have worked hard all their life to acquire some monetary security – only to take it away. On top of this, Trump has recently announced he wants to implement a 10 percent tax cut for middle class — so much for the first one working out the way he stated it would.
Anyone with any knowledge knows this 10 percent added cut will increase the deficit even more — and more importantly will not be in place before the mid-term elections. Maybe Trump needs to do his homework on these proposals rather than try to hoodwink the American public with worthless rhetoric!