February 2018: Trump Spills the Red Ink

 

2/10/18: R.I.P. Tea Party movement. Hang up your tri-corner hats. When Obama was in office, you thought deficit spending was a disgrace. 

 

Deficits larger than under Obama. 

Now you have your own boy in office – or is it occupying the throne? The GOP controls both houses of Congress and the “power of the purse” is firmly in Speaker Paul Ryan’s hands. 

The projected budget deficit for 2018 now stands higher than for any year since 2012, when the U.S. economy was recovering from the Great Recession. If we also look at projected deficits for 2019-2021, the four-year total of $4 trillion would be significantly larger than the deficits ($2.852 trillion) rolled up during President Obama’s last five years. Of course, to be fair, the deficits in Obama’s first term were worse; and, again, to be fair, Obama inherited a mess.