Donald Trump didn’t mention the national debt or budget deficits in his first State of the Union address, possibly because his own policies have left him with nothing good to say on the matter. Thanks to lower tax receipts resulting from the tax scam pushed on the American people by Trump and the GOP, the administration […]
Reviewing the calculations behind Trump’s budget math, Colbert notes that cutting rich people’s taxes is expected to “magically” increase revenues by two trillion bucks over ten years — and that budget director Mick Mulvaney then doubles the magic by counting that revenue twice.
Aside from defense spending, the Trump budget violates nearly every programmatic promise he made to voters last year. And adding insult to real injuries, he pretends to fulfill his promise to balance the budget with fake numbers.
Not only are the numbers phony, but they represent the most audacious mathematical con game in a federal budget that anyone in Washington can remember. It is phonier than the phony budgets cooked up during the Reagan era, when the president’s own budget director eventually confessed, “None of us really understands what’s going on with all these numbers.”
As he was about to take the oath of office, Trump’s team announced plans for $10.5 trillion in cuts based on a plan devised by the Heritage Foundation — a plan that includes huge cuts to Social Security, Medicare, Medicaid and the Defense Department.
Trump called Mulvaney a Congressional voice for “reining in out-of-control spending” and “fighting government waste.” The night before, he promised to seek $1 trillion to spend on infrastructure programs.
Much of the Forest Service’s swelling bill for suppressing wildfires comes from the rising cost of protecting residences in the “wildland-urban interface.” About 16 million houses were built in fire-prone rural areas over the last two decades.
By Lisa Mascaro, Tribune Washington Bureau WASHINGTON — The federal deficit continues to decline thanks to budget cuts, slower growth in Medicare costs and increased tax revenue, but the nation’s long-term fiscal outlook remains troubled, according to a report Wednesday from the Congressional Budget Office. At $506 billion for fiscal 2014, the federal deficit is […]