GOP now ignores deficit

The Republicans fought everything the Democrats wanted to accomplish for eight years, loudly proclaiming “It would add to the deficit.” This even includes relief for the damages to New Jersey by Hurricane Sandy.

But now that they are in control, the deficit be damned. Give tax cuts to the rich and eliminate the inheritance tax. Lower the top marginal rate by five percentage points. Cut the corporate tax rate in half; cut the capital gains tax.

A veritable orgy of tax cutting ensued. No talk of the budget deficit beyond the oft-repeated canard that “tax cuts pay for themselves.” This is a lie. There is no empirical evidence for it and “dynamic scoring” is a lie perpetrated by scoundrels wishing for cover for their giveaways to the rich.

The result of these deeds, if they succeed, will be to blow a hole in the budget big enough to drive a large truck through, much as former president George W. Bush did when he inherited a balanced budget and proceeded to fritter it away with tax cuts to the wealthy and unnecessary wars.

This story was originally published November 21, 2017 at 7:44 PM with the headline "GOP now ignores deficit."