Thursday, February 8, 2018

Debt? Didn't They Once Care?

I'm probably misremembering. Here I'd been thinking Republicans laid claim to fiscal responsibility. That they were outraged at the deficits under Obama, despite the fact that they got steadily lower than when he took over for George Bush. Who was, I seem to recall, a Republican.

Turns out -- imagine my surprise -- that government borrowing is taking a huge leap in Trump's first fiscal year:

... The federal government is on track to borrow nearly $1 trillion this fiscal year — Trump's first full year in charge of the budget.
That's almost double what the government borrowed in fiscal year 2017.
Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year. 
Treasury mainly attributed the increase to "the fiscal outlook." The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax bill... (bolding by yours truly)
There really are no immutible values among Republicans, other than tax cuts and the pretense that they pay for themselves and help people other than the very wealthy.

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