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.
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 […]