Budget Deficit expected to balloon to $702 Billion this year. They blame it on falling tax revenues. So what is the solution? More massive tax cuts, yes that is what they are going to do.
Budget deficits were at their lowest level after 6 years with President Obama in office.
that tax revenues are declining when employment is up, as are corporate profits I believe. Have not seen the details of this but have got to believe that interest on the debt is going up as interest rates rise. But, related to this I have been wondering about the following. "Trump's budget predicts that the U.S. economy will soon ramp up to annual growth in gross domestic product of 3 percent; CBO's long-term projections predict annual GDP growth averaging 1.9 percent." If under the Trump proposal growth is only 1.9%, what will it be if we maintained status quo??? You can say a lot of things about the Trump proposal, but the tax cuts and regulatory relief certainly should be stimulating growth vs the status quo.
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