While Republicans do not expect Trump to push for cuts to Medicare and Social Security while campaigning for reelection, they’ve apparently encouraged him to do so should he win a second term
that the federal deficit will reach $960 billion for the 2019 fiscal year, which ends September 30, and breach the $1 trillion mark in 2020. Previously those figures were expected to come in at $896 billion and $892 billion, respectively, but the damage from the president’s tariffs, along with a sharp falloff in revenue thanks to the 2017 tax cuts, have caused deficit projections to rise faster than expected.
The president also wants to make permanent many of the temporary individual tax cuts contained in the 2017 law, which are scheduled to expire in 2025. The budget office forecast assumes those cuts expire and tax revenues rise; if they do not, future deficit projections would be even larger.The need to borrow more money has been aggravated by several bipartisan budget agreements to raise military and nondefense domestic discretionary spending.
But while the nonpartisan CBO has placed the blame squarely on things like the trade war and tax cuts, Republicans—the ones who spent eight years under Obamafiscal responsibility and bankrupting our grandchildren—have an idea for how to deal with the situation that doesn’t involve taking tax cuts away from the wealthy or reeling in Tariff Man:
Conservative groups—which largely supported Mr. Trump’s tax cuts—have pushed Congress to cut future deficits by reducing benefits for federal health care and retirement programs, like Medicare and Social Security. “Something must be done soon,” the conservative advocacy group FreedomWorks said in a news release on Wednesday, “and that means taking a hard look at mandatory spending, the root cause of the United States’ fiscal woes.
While Republicans do not expect Trump to push for cuts while campaigning for reelection, they’ve apparently encouraged him to do so should he win a second term—a proposition to which President “the number two Republican in the Senate, told the“It’s going to take presidential leadership to do that, and it’s going to take courage by the Congress to make some hard votes. We can’t keep kicking the can down the road. I hope in a second term, he is interested,” Thune said of Trump.
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