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Federal Deficit Hit $984,000,000,000 Last Year, a 50% Increase Since Trump Took Office
Republicans are liars and unfortunately they're good at it. That and millions of people are stupid enough to buy their BS.
During the 2016 campaign, Trump said he'd be able to wipe out the national debt in eight years. Instead, after three years in office, he's overseen a nearly 50 percent increase in the gap between how much the government takes in and how much it spends.
The Treasury Department announced Friday [10/25/19] that the official federal deficit for fiscal year 2019, which ended in September, was $984 billion.... The announcement serves as official confirmation that the federal government's mountain of red ink has grown dramatically during Trump's first three years in the White House.
This is insane. So. Much. Winning.
Perhaps nothing demonstrates Republicans' complete abdication of fiscal conservatism as much as this: In three years in office, Trump has added more to the national debt than President George W. Bush did in his entire two terms.
The nature of the current budget deficit is fundamentally different from the peaks of the early 2010s. Those deficits eventually tapered off... Recovery from the Great Recession boosted tax revenue. The spending binge approved in response to the recession faded away.
Now? The country is running a massive (and growing) deficit despite a decade of economic growth and a low unemployment rate.
Tax cuts for the wealthy and tariffs that did nothing good for economy nor will these massive deficits.
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