When Republicans are in the minority in Congress they campaign on a promise to pass a Balanced Budget Amendment to the constitution. When they govern, however, deficit spending typically soars and the national debt wildly grows.
It happened during the George W. Bush years, and it’s happening again under Donald Trump.
The U.S. deficit grew by $222 billion this year — reaching a total of $895 billion, according to the nonpartisan Congressional Budget Office.
This massive 32% increase was due mostly to the new Republican tax law and Congress’ routine decision to increase spending, which grew by 7% compared to revenue growth of only 1%.
The CBO now says the deficit will approach $1 trillion by the end of this fiscal year. Earlier this year the agency didn’t expect the deficit to reach $1 trillion until 2020.
Republicans are now discussing passing additional tax cuts prior to the midterm election.
