Republican deficits will ruin us
Donald Trump has told his department heads to cut 5% from their budgets to deal with the explosion in the deficit for fiscal 2018 to $793 billion. This is happening in a time of prosperity that started in the Obama years. Wait until things go downhill.
Medicare, Social Security, and interest on the exploding debt cannot be cut by his department heads only Congress can do that. Trump wants no cuts to the military. After removing these, his department heads only control about 15% of federal spending. A 5% cut from 15% is less than a 1% reduction in federal spending. What good will that do? Impress his base?
As the deficit grows and interest rates rise, more will be spent on debt interest. Federal borrowing competing for funds will bid up mortgage rates and car loan rates. This has already started. The 10 year treasury bill has gone over 3%. Mortgage rates are climbing. These will choke the economy toward recession. This may be a recession we may not get out of due to the voracious Federal need for more borrowed money keeping rates high.
The Republicans will push for cuts in Social Security, Medicare and Medicaid to pay for the damage they caused with their failed and irresponsible tax cuts. That’s what the fake Christians planned for. They did a job on Kansas. They could learn, but can’t shake their mindless love for tax cuts. This from the party that not too long ago was squealing for a Balanced Budget Amendment.
Voters owe it to themselves, their kids and grand kids to remove these incompetent and dangerous Republicans. Vote and donate!