Economic disaster ahead
Hopefully, President (blame Obama) Trump and Congressional Republicans learned a painful lesson in 2018. That is that cutting revenues (tax cuts) while increasing spending will almost always result in fiscal disaster.
And that is what resulted in 2018 with a massive budget deficit and an increase of about $1.2 trillion in the national debt. To appreciate the impact of the $22 trillion-plus national debt, the interest on the debt in 2018 was about $460 billion.
Victor Darst
Huntley
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