Deficit Balloons 42% in 2019 Q1 – GOP Response is Ho Hum
On the back of Trump’s gigantic tax cut and unbridled spending, federal deficit spending ballooned 42% in the last quarter, an increase of over $300 billion over the same period last year. It’s the same old, same old – Republicans continue to slash taxes, pushing wealth further and further to the top while lying that cutting taxes magically increases revenue. It wasn’t true in under Reagan, Bush I, and Bush II; and it’s still not true under Trump. As we continue to war make, and increase income inequality, the American infrastructure is crumbling around our ears. The number of Americans without healthcare is again growing, education is floundering, gun violence is increasing, and hate groups are on the rise.
On top of all this, the tax burden that working class Americans is increasing. As of last week, tax refunds are down almost 9%, even though revenues are flat and wages are essentially flat. Trump’s sleight of hand is now costing more for those least able to shoulder that burden while deficit spending continues unabated. The GOP invertebrates in Congress are doing nothing to check this president.