Numbers crunched for the end of the fiscal year on September 30 show that the federal government spent more in 2017 than at any time in history, except for 2010.
That is to say, the Republican Congress spent more money than at any time in American history, save only when President Obama spent $840 billion to stimulate the economy.
As reported by Terence P. Jeffrey in GOP Congress Presides Over Highest Spending Since Obama’s Stimulus, federal spending in fiscal year 2017 was $3,980,605,000,000.
On the other hand, the framework with the tax cuts would add $1.5 trillion to the deficit over the next 10 years.
There is a school of thought that says that deficit spending and national debt aren’t that important to a government. But that school of thought has most of its students from the Democratic Party. Republicans, on the other hand, used to worry about such things.
What do you think? Can we afford massive tax cuts at this time? Should Republicans go ahead with the spending cuts, but wait on tax reform until the government gets its financial house in order?
Or should Republicans go full steam ahead on the tax cuts, in an attempt to stimulate the economy, while finding more ways to pare spending?
Illustration by geralt, via Pixabay, CC0, Creative Commons