Trump's first budget projected a $488 billion deficit for fiscal 2020.
Two years later, his latest budget projects a $1.101 Trillion deficit
What happened?
Revenue is $337B LESS than he had projected (Tax cuts!)
Spending is $276B HIGHER
= Extra $613B red ink
Two years later, his latest budget projects a $1.101 Trillion deficit
What happened?
Revenue is $337B LESS than he had projected (Tax cuts!)
Spending is $276B HIGHER
= Extra $613B red ink
Total new red ink per American next year in Trump's budget:
About $3,000.
About $3,000.
Fun fact: Last year Trump's budget proposed $1.6 billion for the wall. Remember?
We ended up having a shutdown because Trump demanded more, and then he got $1.375B after Pelosi got the gavel.
This is just the opening bid.
We ended up having a shutdown because Trump demanded more, and then he got $1.375B after Pelosi got the gavel.
This is just the opening bid.
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