In big reversal, new Trump budget will give up on longtime Republican goal of eliminating deficit

The following article by Damian Paletta was posted on the Washington Post website February 11, 2018:

The spending deal reached between Senate Democrats and Republicans would garner trillion-dollar-plus annual deficits, bringing fears of larger economic effects. (Reuters)

President Trump on Monday will offer a budget plan that falls far short of eliminating the government’s deficit over 10 years, conceding that huge tax cuts and new spending increases make this goal unattainable, three people familiar with the proposal said.

Eliminating the budget deficit over 10 years has been a North Star for the Republican Party for several decades, and GOP lawmakers took the government to the brink of default in 2011 when they demanded a vote on a amendment to the Constitution that would prohibit the federal government from spending more than it takes in. Continue reading “In big reversal, new Trump budget will give up on longtime Republican goal of eliminating deficit”