Looks like debt climbed almost $1.5trillion in 2018. Also, the upward trend for tax revenues continued. Despite being a “record” year, the trend actually looks to have slowed down. The tax cuts more and more look fiscally irresponsible.
As you can see, revenues rose much more quickly under Obama and have slowed since Trump took office:
Adjusted for the baseline case (tax laws are unchanged) and inflation, total tax revenues are down anywhere from 5-9% depending on the assumptions used for growth with the old tax structure in place.
Hell…the economy could have CONTRACTED by ~1% and we still would have had bigger tax receipts under the old tax scheme than we got under the new one.
And it’s only going to compound…net loss of ~200 B this year, projected net loss of $263 B next year.
Once again putting to lie the myth that tax cuts pay for themselves
He has cut regulations, renegotiating trade deals, and got a massive tax cut passed. What lack of policies are holding him back? And with what he has accomplished, why can’t he achieve better growth than Obama in 2015?
So? Obama had years of record tax collection. Whats your point? Obama revenue growth was way more than trumps first 2 years. Also obama created more jobs in his last 2 years
Good point, that’s very true. Especially in 2016 where there was an actual declined in receipts. Must be over the backlash of fat Donald’s election and the damage he was going to unleash. Lollllls.