You might still be waiting for Reagan's VooDoo Economics to evenly distribute that magical trickle-down cash that stems from cutting the taxes of the über rich. That ass-backwards plan didn't work in the 1980's and will fail even more spectacularly in Trump's America.
While Donald deals with other matters, like Jared, the Kremlin, promoting coal power and international humiliation, the GOP is hard at work pretending to care about the health care of the poor fools who put them in office. Trump's malevolent budget adds massive amounts to the deficit by cutting taxes for those poor rich folks.
Of course, no president simply gets what he wants in his budget, Congress tears it apart, generally speaking. However this particularly awful budget is especially troubling because the Congress that will be deciding the fate of the least among us will likely keep the worst parts of it.
Most notably, he is reneging on his promise not to touch Social Security and Medicare/Medicaid. He savagely robs the poor to pay the rich.
Their egregious math error was no accident.
One of the ways Donald Trump’s budget claims to balance the budget over a decade, without cutting defense or retirement spending, is to assume a $2 trillion increase in revenue through economic growth. This is the magic of the still-to-be-designed Trump tax cuts. But wait — if you recall, the magic of the Trump tax cuts is also supposed to pay for the Trump tax cuts. So the $2 trillion is a double-counting error.
The man with a very short attention span assumes that the number $2 trillion will just go unnoticed, trillion, billion, whatever. It's all minutiae to the Man-baby 'President'. The assumption that the GDP will hit 3% thanks to the reverse Robin Hood tax cuts is simply untenable. Keep in mind, HHS Secretary and evil doctor most likely to be convicted of insider trading, Tom Price, appointed the CBO director and Trump and his sycophants put no faith in their forecasting, which assumes a 1.9% GDP increase (at best).
You can get more output by having more people working and consuming consistently, and you can get more output by having those people work more productively. But our working-age population isn’t growing that much, and productivity has hit something of a plateau. Even with a goose from tax cuts and structural reforms, sustained growth at such a high rate is going to be exceedingly difficult.
As you now know, Republicans aren't the slightest bit concerned about skyrocketing deficits when there's a (R) in the White House. As for another Trump broken promise, forget draining the swamp and leaving popular social safety nets untouched, add this deficit-lowering fantasy to the ever-growing list.
Sadly, those most affected are the ones uninformed enough to vote for this charlatan. Here's a region that will be devastated by this budget, were it to pass: Appalachia.
