We just got some terrible news about the U.S. economy – and it looks like President Donald Trump is to blame.
Trump has only been in office for about six months, but he’s already inflicted some terrible damage on the federal budget – the latest analysis from federal number-crunchers shows the deficit has increased by about $1 trillion under Trump’s administration.
What makes this new number extremely concerning is the fact that Trump and the Republicans in Congress haven’t even passed a new budget. The new projections take into account the economic damage inflicted by Trump’s stupid comments and proposed policies.
This is pretty amazing. Donald Trump hasn’t actually done much of anything in the past five months except flap his jaws. But it’s been some pretty expensive flapping. CBO’s last projection of the federal deficit was released in January. Literally nothing has happened since then except for Trump shooting off his piehole every day and congressional Republicans demonstrating that they can’t control their own lunatics. But that’s been enough. CBO’s projection of the federal deficit over the next decade has already increased nearly a trillion dollars.
The deficit in 2017 alone is projected to be $134 billion higher than CBO estimated when Obama left office. Why? “One reason for the sharp rise in the deficit in 2017 is the slow growth in revenue collections through May and the slow growth expected for the rest of the year.”
Remember when the Republicans were supposedly the party of fiscal responsibility? That idea is long gone under the Trump presidency.
Former Republican President George W. Bush got us into a record-setting amount of debt, but Trump appears ready to smash that record. Sad!