With His Budget, Trump Proves GOP Really is ‘the King of Debt’
Yesterday, President Trump – aka ‘the king of debt’ – rolled out a cruel budget proposal that would sharply raise the federal deficit by more than $7 trillion, showing the compounding cruelty of the deficit-exploding GOP tax scam.
Now, President Trump’s budget proposal is being slammed from all sides – including from Republicans enraged that their President has pulled back the curtain on the GOP’s deficit hypocrisy:
This budget proposal threatens economic growth by doubling down on fiscal policies that have failed us in the past and will pass the burden on to our children, grandchildren, and beyond.
At the end of the day, this budget still does spike the deficit, raises debt as a percentage of GDP.
“If the Republicans in Congress don’t realize that spending control is one of the most important issues that our winning coalition cares about, if they are cavalier about spending decisions, I think we do risk our ability to go to the voters and say it matters to have us in the majority,” said American Conservative Union chairman Matt Schlapp.
How ironic that the White House would release its annual budget proposal for 2019 right after Congress voted to hose taxpayers once again on the budget for 2018 … this budget makes it clear that he will certainly not serve as an agent of change.
President Trump on Monday sent Congress a $4.4 trillion budget with steep cuts in domestic programs and entitlements … envisioning deficits totaling at least $7.1 trillion over the next decade.
The White House released a tax and spending plan Monday that would not eliminate the federal budget deficit after 10 years, its first public acknowledgment that large spending increases and the $1.5 trillion tax cut are putting severe pressure on the government’s debt.
President Donald Trump introduced his 2019 budget blueprint on Monday. He makes some pretty unrealistic claims about how his current proposals would reduce deficits.
President Donald Trump unveiled a $4.4 trillion budget for next year that heralds an era of $1 trillion-plus federal deficits and — unlike the plan he released last year — never comes close to promising a balanced ledger even after 10 years.
The biggest single difference between President Donald Trump’s new budget and his first one nine months ago is this: The White House can no longer hide the immense deficits it would create, not after the tax cuts and military buildup Trump championed and secured.
President Donald Trump’s proposed $4.4 trillion budget would boost the federal deficit to nearly $1 trillion in the next fiscal year and result in accumulating shortfalls of more than $7 trillion over the coming decade.
President Donald Trump on Monday sent Congress a budget plan for 2019 that makes little headway on reducing the federal deficit in coming years.
U.S. Federal Deficit will probably increase this year (fiscal 2018) [and] could come close to if not exceed $1 trillion in fiscal 2019 and will likely exceed $1 trillion in fiscal 2020 and beyond.
… Republican Party’s own response to the evident failure of its fiscal program, which is doubling the budget deficit during peace and prosperity.
Trump has not abandoned Republican economic policy. He has carried it out faithfully. The party’s attempts to pin its collapse on his personal shortcomings of willpower are a completely predictable part of how that policy takes shape.
The proposal would add $7.2 trillion more to the debt over 10 years … made more difficult by the trillion-dollar hole left in the budget by Trump’s tax cut.
In the first budget cycle fully under their control, Trump and the Republican-run Congress are likely to run a deficit that will top $1 trillion.
The White House and Congress have shown little willingness to cut back on spending, finding it easier to cut taxes and increase spending during Trump’s presidency.
The stock market may just have fired off a warning shot to the Trump administration and Congress about their plans to blow up the size of the federal deficit.
The ballooning federal budget deficit under President Donald Trump will force the U.S. to borrow more than $1 trillion this year and risks worsening the frenzy behind the global sell-off in stock markets.
The Trump budget hollows the foundation of our national strength, and showcases the President’s utter disregard for the future of seniors, children and families.
Democrats will continue to fight for real, bipartisan solutions that put the middle class first with A Better Deal: Better Jobs, Better Wages, Better Future.