Once again, the Republican party proves that it’s very concerned about deficits when the Democrats are in charge:
From the text of the 2017 Budget Resolution:
(4) DEFICITS.—For purposes of the enforcement of this resolution, the amounts of the deficits are as follows:
Fiscal year 2018: $541,560,000,000.
Fiscal year 2019: $673,600,000,000.
Fiscal year 2020: $728,659,000,000.
Fiscal year 2021: $785,164,000,000.
Fiscal year 2022: $897,085,000,000.
Fiscal year 2023: $892,854,000,000.
Fiscal year 2024: $863,233,000,000.
Fiscal year 2025: $946,057,000,000.
Fiscal year 2026: $1,008,577,000,000.
(5) PUBLIC DEBT.—Pursuant to section 301(a)(5) of the Congressional Budget Act of 1974 (2 U.S.C. 632(a)(5)), the appropriate levels of the public debt are as follows:
Fiscal year 2018: $20,784,183,000,000.
Fiscal year 2019: $21,625,729,000,000.
Fiscal year 2020: $22,504,763,000,000.
Fiscal year 2021: $23,440,271,000,000.
Fiscal year 2022: $24,509,421,000,000.
Fiscal year 2023: $25,605,527,000,000.
Fiscal year 2024: $26,701,273,000,000.
Fiscal year 2025: $27,869,175,000,000.
Fiscal year 2026: $29,126,158,000,000.
Holy Cow! Look at those numbers go up! Why are these numbers rising? I thought you told us we were going to see massive savings because the massive expenditures for Obamacare were going to go away, GOP?
OOOH! Because you’re going to spend billions getting rid of the estate tax and reducing income taxes for the top 2% of the country. Of course! Silly me for thinking otherwise!
Rescinding the Affordable Care Act means not only taking away health coverage from some 20 million Americans. It also means scrapping two big tax increases Democrats imposed on the wealthy to help pay for it all.
Republicans are likely to ax those taxes on the earnings and investments of those making more than $250,000 — and not replace them — in what some predict will prove the biggest tax cut of next year.
Okay, that blows a huge hole in the deficit, because these clowns have already said they want to delay the demolition of Obamacare on the health care services side. That means the expenses will rise with no money paying for them. So much for the “responsible Republican” name they always claim for themselves.
(Side note: to give you a sense of the callousness some of the GOP exhibit toward the poor and middle class, try this:
“It means that there’s a large, permanent tax cut before we even get to tax reform,” said Ryan Ellis, former tax policy director for Grover Norquist’s Americans for Tax Reform.
“To me personally, that’s the best part about repealing Obamacare,” he said. “Because on the health care side of it, you have this complicated ‘replace’ that you have to turn to after that, but on taxes, it’s all easy — it’s all dessert.”
What the hell. I’m sure Mr. Ellis has blue-chip health care paid for by his employer.
Do you suppose the true-believers will ever, ever turn on the GOP for lying to them about deficits and the national debt? They do it every time they get into power, and then the Democrats have to clean up after them when they get back into the White House and Congress. It’s happened over and over again, from Reagan/Bush to Clinton, who balanced budgets in his second term, through Bush 43, who spent trillions on the Iraq War and Medicare Part D and blew up the deficits again, which Obama then had to pare back down. Now we have both houses of Congress in Republican hands and they have the White House too. If the country survives Trump it’s going to be another gigantic mess the Democrats will have to clean up.