Anonymous
Anonymous asked in Politics & GovernmentPolitics · 2 years ago

Without referring to President Obama, could you explain why Trump has increased the federal deficit compared to Obama's last budget year?

8 Answers

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  • david
    Lv 7
    2 years ago
    Favorite Answer

    Yes. Yes, I can. Trump cut taxes on the rich by a trillion dollars. Less money coming in makes the deficit increase. He wants to spend more money, billions on a wall. More expenditures makes the deficit increase. Trump has done NOTHING to decrease the deficit.

  • Dale
    Lv 6
    2 years ago

    To rebuild the military that you know who let go to waste.

  • James
    Lv 7
    2 years ago

    He is an idiot who gave billionaires a tax cut they did not need without cutting spending.

  • 2 years ago

    Because he is a big spending liberal.

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  • 2 years ago

    No.

    HTH

  • Anonymous
    2 years ago

    Because Trump and Congress passed a major tax cut for corporations and the richest individuals that reduced the federal treasury without making corresponding cuts in spending.

  • Anonymous
    2 years ago

    The Congressional Budget Office is projecting that this year's deficit will jump to $897 billion, up 15.1 percent from last year's deficit of $779 billion. Last year's deficit had been the largest since 2012.

    The CBO said last month that the annual deficits are headed higher over the next decade and will top $1 trillion starting in 2022 and will never drop below $1 trillion in annual deficits through 2029, the end of the CBO forecast window.

    The new budget report showed that individual tax receipts were down 1 percent in the October-December period compared to a year ago. Corporate taxes are down 18 percent during the same period.

    In other words under Trump and the GOP , federal spending is up and revenue is down. So much for the GOP and Trump being financial geniuses.

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