Republicans spent eight years railing against President Obama for deficit spending and increasing the national debt, but you can forget about all that now. They're back in control and their president-elect has promised to spend, spend, spend. And hey, no one's more qualified to bankrupt our country than Donald Trump, reports Ben Weyl.
“There is now a real risk that we will see an onslaught of deficit-financed goodies — tax cuts, infrastructure spending, more on defense — all in the name of stimulus, but which in reality will massively balloon the debt,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget.
The non-partisan group estimated Trump’s campaign proposals would increase the national debt by a whopping $5.3 trillion over the next decade. That would make the debt as a share of the economy rise from nearly 77 percent to 105 percent, a potentially dangerous level for the government.
Dick Cheney came close to summing it up best: "Deficits don't matter.”** (**Unless Democrats are in power.)
Where's all that tea party rage of 2010 now?
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