Under Trump and the Republicans?
Spending is off the hook…..
Don’t Republicans stand for LESS government spending?
Federal Debt held by the public is on track to hit “unprecedented” levels, rising from the current 78 percent of GDP to 144 percent by 2049 if current laws are maintained, according to a new report from the nonpartisan Congressional Budget Office (CBO).
But the report found that if Congress works to wipe out scheduled spending and tax changes currently in law, which include sharp spending drops set to go into effect in 2020 and the expiration of income tax cuts scheduled for 2026, debt would rise to 219 percent of GDP.
The CBO says that such debt increases could pose “substantial risks.”
“The prospect of such large deficits over many years, and the high and rising debt that would result, poses substantial risks for the nation and presents policymakers with significant challenges,” said CBO director Phillip L. Swagel.
In CBO’s central projection of 144 percent of GDP, the government would spend more on interest payments than the entire discretionary budget, which includes defense and all domestic programs, by 2046….
“Don’t Republicans stand for less government spending?”
They “stand” for nothing but hating “libruls “ and the media.
Yeah it’s a phrase they mouth off occasionally .Its meaningless of course.
Republicans have been the borrow and spend party since Reagan. They especially like to spend on defense. Almost all of their tax cuts are financed by borrowing.
Remember that the only recent time when the budget had a surplus (paying down rather than increasing the National Debt) was when Bill Clinton (D) was President and Newt Gingrich (R) was Speaker.
That meant the GOP could be its usual stingy, mean-spirited self, while Clinton & Gore (Third Way) claimed that they were shrinking Big Government and the Federal payroll through a combination of out-sourcing (or privatising) government services, and replacing direct aid with “targeted tax cuts” which immensely complicated Form 1040 with dozens of extra lines and schedules.
It didn’t hurt that the economy was doing very well in the middle of the uncontrolled Internet Bubble.
yea….
for $500 wrenches?
and F-35’s that can’t do the missions it was designed for?
at the expense of healthcare for all?
Every Republican I’ve known has just shrugged when I point out that GOP Presidents explode the deficit.
Yet as soon as a Democrat is in office they complain about it again.
“Fiscal Conservatism”
Just another phrase that reveals the bankruptcy of “conservatism.”
Democrats have different standards, eh?
Been THAT way for a good long while….
If my memory is correct, everyDemocratic President since Nixon had a smaller deficit their final year in office than their first year in office, and every Republican since Carter finished with a larger deficit than in their first year. And of course that will continue with Trump. Republicans are just fiscally irresponsible. They weren’t always that way.
That’s right.
Indeed,believe it or not,many conservatives back in the fifties and sixties would Oppose tax cuts without corresponding budget cuts.
Striving for a balanced budget was issue numero uno.
Today’s “conservatives?”Nothing, absolutely Nothing, is more important that tax cuts,particularly for the wealthy ,with ,of course, an obligatory nod,for old times sake I suppose, to a balanced. budget
Ah?
The ‘sequester’ was dropped on President Obama
i believe it is STILL around…
i assume it will be sent away quietly?
Entitlement cuts won’t make it with this House majority…