You can read tweets, or op-eds, or you can just look at the actual numbers. Here are the Treasury's latest monthly numbers on receipts (revenue) and outlays (spending) going all the way back to the 80s. https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/current.htm It's a very easy to read chart. You can even download it as an excel file and play around with it.
These latest numbers end at June 2018. Oddly enough, revenue for the first 6 months of 2018 is slightly higher than the first 6 months of 2017. Unfortunately, federal spending is also higher, and outpacing the revenue.
It's almost like we've got a.... spending problem. And while I agree that Republicans shoulder much of the blame for our current spending glut given that they hold the WH, House, and Senate (albeit not by a big enough margin to get any significant budget cuts past a Democrat filibuster), I think it's a bit disingenuous to blame increasing deficits on the tax cuts given that revenue has not fallen.
Meanwhile, I can report that the KSU-Dub household is having a banner year and these tax cuts could well save me over 8 grand this year alone. But if you want to be bitter and angry over letting people keep more of their money, bitch away.
Interesting to blame the democrats for spending....given the spending spree by the republicans that's actually happening.
Glad you are taking more home, costs of everything are about to go up with your lovely tariffs that's going to eat away that $8k real quick.
The story on tax cuts on revenues is still to be told..
That’s right. We still don’t know the full impact of the tax cuts. All I can say is that for the first half of the calendar year since the cuts went into effect, the cuts have not blown a hole in our receipts. The doom and gloom that was predicted has not come to pass. The economy is turbocharged.
Regarding the tariffs, please. Just give it a rest. I’m a proponent of free trade. But free trade is a
two way street. Trump is currently working to balance out the tariff load, and ultimately I expect that tariffs will be reduced on both sides. In the meantime, your hysteria about trade wars, tariffs and price inflation is not coming to pass. Don’t be like this. Call down. Relax.
Finally, you need to acknowledge that liberals are being extremely disingenuous on deficits. First, the growing deficits are not being caused by tax cuts (see point one) but by spending. Second, it’s true that the GOP is currently in control of the WH and Congress and are therefore chiefly politically responsible for the current spending glut. But you and I both know that there’s a difference between political perception and reality. And there is a difference between party and ideology.
What I mean by that is: (1) the GOP is not a monolithic party but a coalition of “moderate” and conservative politicians, and (2) even if the GOP were more conservative, it still wouldn’t be able to get much done from a budget standpoint because of Democrat filibuster power in the Senate.
To suggest that our spending problem will somehow improve with Democrats in charge of the Congress is hysterical nonsense. The only way to actually get spending under control is to elect significantly more fiscal conservatives. So for a liberal to tease me about our spending problem, which I fully acknowledge, is more than a tad disingenuous. It is blatantly, stupidly dishonest.