Sections SEARCH Skip to content Skip to site index Politics Subscribe Log In Log In Today’s Paper Politics | Fact-Checking Trump’s Rally: Russia, the Wall and Tax Cuts Advertisement Supported by President Trump delivered remarks in Florida in a formal start to his re-election effort. ByLinda Qiu June 18, 2019 President Trump officially began his campaign for re-election on Tuesday at a rally in Orlando, Fla., touching on themes and promoting accomplishments that are likely to be staples of his appearances from now until Election Day. Here’s a fact-check of his remarks. Russia “Nobody’s been tougher on Russia than Donald Trump.” This is misleading. Whether Mr. Trump has been “tougher” than any other president is subjective. But it’s worth noting that observers of American relations with Russia point to a disconnect between aggressive policies … [Read more...] about Fact-Checking Trump’s Rally: Russia, the Wall and Tax Cuts
Reagan tax cuts
U.S. Donald Trump It’s an eye-wateringly large figure, $22 trillion. Almost unfathomable. But that was the size of America’s national debt at the end of 2018, a record high reached under President Donald Trump and a figure widely cited this week. That number came from the Monthly Treasury Statement for December, which was published on Wednesday. The full amount is $21,974,096,000,000, an annual rise of 7.2 percent and a significant acceleration from the previous year’s increase of 2.6 percent. However, there is more to this figure than first appears. “It’s a little misleading because that is the gross amount, which includes ‘debt’ that various federal government departments owe to other departments,” Paul Ashworth, chief U.S. economist at the consultancy Capital Economics, told Newsweek . “In particular, it includes nonmarketable debt that the federal government ‘owes’ to the social security and Medicare funds. … [Read more...] about Donald Trump’s Tax Cuts, the ‘Misleading’ $22 Trillion Debt and Why America’s Rising Deficit Is the Real Issue
Paul Davidson USA TODAY Published 5:01 AM EST Feb 6, 2019 Is President Trump blowing up the deficit and dooming the economy? Trump's big tax cuts and spending increases have substantially widened the deficit – the annual gap between government income and expenses – to nearly $1 trillion, lending fresh urgency to a debate that seemed to have vanished from the halls of Congress in recent years. Some economists and think tanks say the red ink could ultimately crimp the economy by pushing up borrowing costs for Americans and hampering the government’s ability to spend in a crisis. That could mar Trump’s economic legacy, much as a big debt run-up in the 1980s tainted President Reagan’s. Meanwhile, the sum of all annual deficits and surpluses, the national debt, is an eye-popping $21 trillion. The ratio of national debt held by the public – which excludes things like Social Security – to gross domestic product … [Read more...] about Deficit under Trump: Will tax cuts, spending hikes doom economy?
Man hands sweeping money,business concept. Lucky man winning lots of us dollar from gambling,with smiling face and black background.cherrybeans/Getty Looking for news you can trust?Subscribe to our free newsletters. One year ago today, President Donald Trump signed into law the largest tax overhaul America had seen in 30 years. In an Oval Office signing ceremony just a few days before Christmas 2017, a festive Trump called the Tax Cuts and Jobs Act the “biggest tax cut…of all time” and vowed the law’s boon for companies would trickle down to regular Americans as CEOs invested in bonuses, raises, expansions, and hiring. “I consider this very much a bill for the middle class, a bill for jobs,” the president said. But in the year since the GOP Congress helped Trump push through his $1.5 trillion in cuts in less than two months, businesses have not, as promised, overwhelmingly given their extra profits back to the people. Instead, they’ve … [Read more...] about It’s Been a Year Since Trump Enacted Sweeping Tax Cuts. Rich People Won.
By E.J. Dionne Jr. | The Washington Post October 23, 2018 at 12:45 pm WASHINGTON — A truly gifted con artist is someone who pulls off the same scam again and again and keeps getting away with it. Say what you will about Republicans and conservatives: Their audacity when it comes to deficits and tax cuts is something to behold, and they have been running the same play since the passage of the Reagan tax cuts in 1981. Republicans shout loudly about how terrible deficits are when Democrats are in power — even in cases when deficits are essential to pulling the nation out of economic catastrophe, as was the case at the beginning of President Obama’s first term. But when the GOP takes control, its legions cheerfully embrace Dick Cheney’s law and send deficits soaring. Recall what President George W. Bush’s vice president said in 2002 justifying the 2003 tax cuts: “Reagan proved deficits don’t matter.” Deficits don’t matter if they … [Read more...] about Dionne: GOP audacity with deficits and tax cuts is something to behold