Wed
Sep 12 2018
07:19 am

The Congressional Budget Office reports that the U.S. budget deficit has reached $895 billion for the fiscal year to date, a 32% increase over the same period last year. Revenues increased 1% but expenditures increased 7%.

According to the report, some of the deficit increase was caused by the Republican tax cuts, which reduced corporate tax receipts by 30%.

The deficit is expected to hit $1 trillion for the fiscal year.

This means Congress is borrowing about $3100 this year for every man, woman and child in the U.S. (Tennessee's share is almost $21 billion) to help pay for executive jets, yachts, private schools and girlfriends on the side, all of which will be long gone before future generations pay off these generous gifts from Congress and the Grifter in Chief.

Remind me again how conservative Republicans are supposed to be good fiscal stewards?

The deficit decreased 32% in 2013 on Obama's watch, and about 75% overall during his term. Clinton erased the deficit and handed Bush a surplus at the end of his term.

But wait, there's more. Republicans are scrambling to rush out yet another tax cut before the midterms that would create $2 trillion more in deficits.

Be smart. Don't fall for the con.

style="display:block"
data-ad-format="autorelaxed"
data-ad-client="ca-pub-3296520478850753"
data-ad-slot="5999968558">

TN Progressive

TN Politics

Knox TN Today

Local TV News

News Sentinel

State News

Local .GOV

Wire Reports

Lost Medicaid Funding

To date, the failure to expand Medicaid/TennCare has cost the State of Tennessee ? in lost federal funding. (Source)

Search and Archives