President Donald Trump and the Republicans are not taking America’s finances seriously. Despite lambasting the previous administration for increasing the national debt and maintaining years of reckless spending, the GOP has refused to be fiscal conservatives.
Trump recently completed his first full fiscal year in the White House and the numbers are not good.
According to the Treasury Department, the budget deficit ballooned to $779 billion, up $113 billion from a year ago and the biggest jump in six years.
What happened?
Budget chief Mick Mulvaney placed the blame on lawmakers’ desires to spend more money.
“The president is very much aware of the realities presented by our national debt,” he said. “America’s booming economy will create increased government revenues — an important step toward long-term fiscal sustainability. But this fiscal picture is a blunt warning to Congress of the dire consequences of irresponsible and unnecessary spending.”
When confronted by the spike, President Trump conceded that “I had no choice but to do it.” Ostensibly, he blamed military spending and hurricanes for the dramatic jump in the federal deficit.
“We also have tremendous numbers with regard to hurricanes and fires and the tremendous forest fires all over,” Trump said. “We had very big numbers, unexpectedly big numbers.”
Another interesting development in this story is the media’s sudden concern about the deficit.
Under President Barack Obama, the media explained how important it was to go into debt. Under Trump, they’re suddenly clutching at their pearls and sweating over the near $1 trillion deficit.
Meanwhile, the Republicans prove how they’re just hypocrites as they have abandoned fiscal conservatism.
The USA is no longer a country of by and for the people. Over the last 100 years we have become a country of by and for the corporations, special interest groups ans the political elite.
End corporate welfare now! It would be the right thing to do, to help reduce the deficit.