September 12, 2018

Tax cuts contribute to a huge & growing federal deficit

According to the Congressional Budget Office the federal government spent $895 billion more in the last 11 months than it collected in tax revenues. "That’s a 33 percent increase from last year." This is a direct result of massive tax cuts pushed through by Republicans in 2017 combined with huge increases in spending.
"Trillion-dollar annual deficits are going to be the new normal. The money being borrowed to pay for this bender will eventually need to be repaid — with interest. Yet House Republicans are talking this week about a second round of tax cuts that could cost another $2 trillion over the next decade." They are pushing the additional tax cuts to score political points against Democrats as mid-term elections approach. (reported in The Washington Post by James Hohmann 9/12/18.
If you have kids or grandkids or care about the future of our country... think about the burden current tax cuts will have on you and future generations. Say NO to more tax cuts!
Just as hurricane Florence is poised to cream the Carolinas, FEMA is in desperate shape. Why? Because the Trump administration has shifted FEMA funds to ICE! Also, budget cuts due to the tax cuts is affecting FEMA's ability to help Americans in times of disaster.

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