The Bush tax cuts cost $488 bn
The Trump tax cuts cost $164 bn
The overseas wars cost $127 bn
The base defense increases post 9/11 cost $156 bn
If not for those, the deficit of $779 billion would have been a surplus of $156 bn.
Here's what the time series graph looks like. Republicans increase the deficit and then just *have* to (but they promise they are very sorry) come after Medicare and Medicaid and Social Security and SNAP, because they are "fiscally responsible," or something.
The primary frame is - but shouldn’t be - spending. GOP members will never in today’s age work to balance the budget with ANY revenue. Even one penny was too much for them in the Obama years.
To erroneously blame a spending bill is wrong when their true goal is to cut spending.
If the response to lots of revenue decreases & some spending increases is net spending reductions, well, that’s the goal for Rs. They’re betting on it being harder to under tax cuts than to undo spending. Deficits are a feature. medium.com/@BBKogan/repub…
Even the Trump administration agrees the Bill Formerly Known as TCJA loses a LOT of revenue. This shows revenues in Trump's last budget and this one. If the GOP tax plan actually raised revenues, the dark yellow line would be higher. @MichaelSLinden, @SethHanlon, @dashching