The following commentary by Stan Collender was posted on the DCReports.org website August, 2018:
Trump’s Deficits Will Cause Very Serious Challenges For Multiple Generations Of Americans
The headline above is not partisan hyperbole or a rhetorical flourish: The $1 trillion-plus annual Trump budget deficits that are about to start will soon create huge policy challenges for future generations of Americans.
While presidents submit and Congress adopts one-year budgets (when they bother to do a budget at all, that is), the spending and taxing policies put in place in those budgets are more or less permanent.
This is certainly true with federal spending because most of it is “mandatory”‘ and will continue until Congress and the president change it. Given that most mandatory spending (Social Security, Medicare and many veterans benefits, for example) are growing in popularity, reductions aren’t likely any time soon…and maybe not at all.
View the complete article here.
NOTE: Rep. Erik Paulsen voted for this tax bill.