The great event of our age is class warfare. It's being fought by the very wealthiest against everyone else, and nobody is paying the slightest attention to it.It's a Republican standard.
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"Trump trillion-dollar-plus deficits are putting America on a path to fiscal ruin"
"It became very clear this month that neither the Trump White House nor its allies on Capitol Hill want you to know that the federal budget is already in very bad shape ... and getting worse.
It happened when the U.S. Treasury, the official keeper of Washington’s financial results, issued its monthly statement for the first 10 months of fiscal 2018 about federal revenues and spending and, therefore, the budget deficit. The Treasury showed what no president ever wants to admit: the deficit is spiking. The federal government’s red ink this year is already 21 percent above what it was in 2017 and there are few prospects that the bottom line will improve anytime soon.
Except with infrequent and unsubstantiated platitudes about how the situation is going to get better, the Trump White House and Republicans in Congress have been doing everything possible not to talk about the budget this year. To avoid tough questions and politically embarrassing votes, the House and Senate have even refused to consider a budget even though they are required by law to adopt one.
But this year isn’t the real issue.
Trump's deficits are permanent -- unlike the trillion-dollar budget deficits that occurred during the Obama administration that were temporary and largely the result of the Great Recession, the Trump deficits that will soon reach and exceed $1 trillion are permanent and will only get worse in the years ahead. The Trump deficits are the result of changes in federal spending and revenues that will continue to be in place until some president and Congress decide to reverse them, that is, to increase taxes and make cuts to popular programs.
Not only has there been little appetite to do that, many in Congress and the Trump administration seem to be hell bent on ignoring the current deficit and national debt and increasing spending and reducing revenues even further. For example, the White House last week proposed a new Space Force that would likely add billions, if not hundreds of billions, to the Pentagon’s budget.
Trump has asked for $25 billion for the wall he wants to build between the U.S. and Mexico. His much talked about but still unseen infrastructure plan would cost countless billions more...
The White House [is] actually refusing to comment on three key issues:
First, it obviously doesn’t want to talk about how big the annual deficit could get in the years ahead. The Congressional Budget Office is already projecting it will exceed $1.5 trillion by 2028, and that assumes no changes from existing taxes and spending laws and no recession.
Second, it also doesn’t want to talk about how it will pay for more tax cuts, a Space Force, the wall, infrastructure or anything else ... including reducing the deficit.
Third, the Trump administration doesn’t want to explain how it’s going to manage the U.S. economy out of a recession if one happens on its watch. The traditional federal response of tax cuts and spending increases might not be as politically palatable as it has been in the past given that it could drive the annual deficit to close to $2 trillion.
The budget policymakers on Capitol Hill and in the Trump White House obviously aren’t focusing on much beyond 2018 and 2020. But they should at least be willing to admit that there’s a problem that will continue long after the votes have been counted in those elections."
https://www.usatoday.com/story/opini...umn/986236002/
The idea behind the tax cut was to deliberately transfer money from the sick and the elderly to the wealthy. It's appalling, and nobody is speaking out about it or even recognizing it.