|Senate Majority Leader Mitch McConnell|
Remember when the Trump tax cuts were not only going to pay for themselves but lower the deficit?
Yeah, not so much.
From Bloomberg News:
Senate Majority Leader Mitch McConnell blamed rising federal deficits and debt on a bipartisan unwillingness to contain spending on Medicare, Medicaid and Social Security, and said he sees little chance of a major deficit reduction deal while Republicans control Congress and the White House.
“It’s disappointing, but it’s not a Republican problem,” McConnell said Tuesday in an interview with Bloomberg News when asked about the rising deficits and debt. “It’s a bipartisan problem: unwillingness to address the real drivers of the debt by doing anything to adjust those programs to the demographics of America in the future.”
McConnell’s remarks came a day after the Treasury Department said the U.S. budget deficit grew to $779 billion in Donald Trump’s first full fiscal year as president, the result of the GOP’s tax cuts, bipartisan spending increases and rising interest payments on the national debt. That’s a 77 percent increase from the $439 billion deficit in fiscal 2015, when McConnell became majority leader.
People aren’t idiots, Mitch.
You blew up the deficit with huge tax cuts for the ultra-rich, now you want to go dismantle the social safety net, just like everyone predicted.
“McConnell eyes cuts to Medicare, Social Security to address deficit” https://t.co/55d1IFx2BH
— Alyssa Milano (@Alyssa_Milano) October 17, 2018
This is a direct attack on our seniors. Medicaid and Social Security aren’t “entitlements,” they are earned benefits for working class people. https://t.co/yxQCdCYuMs
— Andrew Janz (@JanzforCongress) October 17, 2018
Sure enough, Mitch McConnell is already saying that we need to cut entitlements — which is a euphemism for cuts in Medicare and Social Security, something every news article should point out — in response to the deficit the tax cut exploded 2/ https://t.co/4casxKA8CA
— Paul Krugman (@paulkrugman) October 17, 2018