The US deficit is rising (both total and as a ratio to GDP) since Trump took office.
The total deficit for 2018 was $779 billion.
As of May 2019, the deficit for the year is $739 billion.
Projections for 2019 total are $1.1 trillion.
Since that would definitely break the debt ceiling, Dems and the GOP have agreed to raise the limit the US can borrow.
Trump and Republicans (as always), claimed that the economic stimulus would pay for the tax creaks - but despite the economy chugging along, tax revenue is falling further and further behind spending.
This can only be called the Trump Deficit, as the President is doing exactly what he has done all his life: spending other people's money.
The total deficit for 2018 was $779 billion.
As of May 2019, the deficit for the year is $739 billion.
Projections for 2019 total are $1.1 trillion.
Since that would definitely break the debt ceiling, Dems and the GOP have agreed to raise the limit the US can borrow.
Trump and Republicans (as always), claimed that the economic stimulus would pay for the tax creaks - but despite the economy chugging along, tax revenue is falling further and further behind spending.
This can only be called the Trump Deficit, as the President is doing exactly what he has done all his life: spending other people's money.
via International Skeptics Forum https://ift.tt/2Y0VxUz
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