Paul Ryan became Speaker of the House weeks after fiscal year 2015 ended with a deficit of $439 billion.
Trump OMB deficit projection this year: $890 billion.
Next year: $1,085 billion.
Trump OMB deficit projection this year: $890 billion.
Next year: $1,085 billion.
Big factors in this deficit hike:
Paul Ryan/McConnell gave up on revenue-neutral tax cuts.
They backed a big increase in deficit-financed discretionary spending.
They did not trim entitlements in a meaningful way.
Paul Ryan/McConnell gave up on revenue-neutral tax cuts.
They backed a big increase in deficit-financed discretionary spending.
They did not trim entitlements in a meaningful way.
Ryan and McConnell have repeatedly proposed to trim entitlements. I've covered Ryan plans to trim Medicare, Medicaid etc for over a decade.
They just don't have enough votes willing to enact that agenda.
They just don't have enough votes willing to enact that agenda.
Irony? Ryan/McConnell could have gotten Obama to agree to cuts to Social Security, Medicare, Medicaid as part of Grand Bargain, but fell apart over tax rates they would later cut anyway.
You really should watch this
Paul Ryan has since blamed the Senate for the failure of health care repeal efforts, but Ryan's health care bill would not have dented the deficit anytime soon because - unlike his earlier budgets - AHCA poured nearly all the savings from health care spending cuts into tax cuts.
Ryan's other big ideas from long ago, like Medicare vouchers and major surgery on Social Security for future retirees never made it anywhere close to the House floor.
