U.S. cruises toward record-breaking debt on Trump's watch

[applegrove]

By Sarah Ferris at Politico

https://www.politico.com/amp/story/2018/06/26/cbo-federal-deficit-break-records-651929?__twitter_impression=true

"SNIP.......

The nation’s fiscal outlook looks ever bleaker, thanks in part to deficit spending during President Donald Trump’s first term, Congress’ nonpartisan budget scorekeeper projected Tuesday.

Within 16 years, the federal debt is expected to be the largest in history, outpacing even the fiscal shortfalls that followed World War II, according to Congressional Budget Office estimates.

Congress’ recent tax and spending laws — along with ballooning costs of programs like Social Security and Medicare — also are driving up the amount the government pays in interest on money borrowed to make up for the gap in cash coming in and going out.

Indeed, those interest payments will exceed the cost of all Social Security spending within decades, CBO predicts. Interest costs also will be higher than discretionary spending, which amounts to all federal dollars Congress controls.

........SNIP"

[TheRealNorth]

1. Remember

It took 50 votes in the Senate to pass the tax cut, so it takes only 50 votes to undo it. And don't let them say otherwise.

[NickB79]

4. Pretty sure you'd need 60 to override Trump's veto. nt

[TheRealNorth]

8. Good point

I was only thinking Senate. And of course, there is a majority vote needed in the House. So nothing will happen until at least after 2020.

[kimbutgar]

2. The sheep who live in Reich wing media world will never hear this

They were only outraged when their media told them to be upset when a black man in the Whitehouse. Only white presidents like Twitler can run up hugggge debts and no peep of anger.

[C_U_L8R]

3. So much winning

Trump promised the biggest.
But it's the biggest hole.
If our children realize they will have no future
with Republicans in charge, maybe they'd
really get out and vote.

[sakabatou]

5. It's gonna take a shit-ton of work to get out of this hole

[USALiberal]

6. Hey, the deficit only matters when a Dem is president! nt

[roamer65]

7. If there is a tax increase, it needs to be on those making 250k or more.

...and no brining back the deductions for children. That needs to stay gone. We have enuff people on this planet already, we don’t need to be subsidizing baby production.

[keithbvadu2]

9. When are you republicans going to do this mythical fiscal responsibility that you preach bur refuse

When are you republicans going to do this mythical fiscal responsibility that you preach bur refuse to practice?