Page 10 - Spending Increases News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Of a combination of the tax cuts and spending increases which were bipartisan. democrats and republicans got to the to do spending increases. but the consequences is woof do we've done nothing as far as the did have si-- deficits, an additional $12 trillion on top watch we have now. >> and john heilemann, he's talking about trade deficits when he's talking about national debts and -- >> it's absolutely shocking to me you would suggest donald trump does not have a firm grasp on macro economic data.

Margin squeeze many companies had to pay as tariffs went up. that goes away on year-over-year profit gain in the first quarter because the tax cut plays out. we have big spending increases. those increases are adding to the corporate -- the national debt, along with corporate debt we have out there, all of that has interest expense and the interest expense is going up. these are all things we need to deal with. >> i will ask my control room if they've got the chart. one of the things that's important, when you're raising debt at times when the interest rates are low, that's one thing. now we'v...

Absorbed the fact that the economy is growing for quite sometime. president trump talks about record streak of private sector job creation. most of that record, obviously, was amassed under the presidency of barack obama. he inherited -- trump inherited a good economy. things have gotten accelerated in part because of the stimulus. deficit financed stimulus from the tax cut and from spending increases. but people kind of get that we haven't had a revolution in the economy under president trump and they're focusing on other things and those culture war issues are part of it. >> who do the presi...

Twitter this week so i'm glad you're here. what kind of impact would a 5% budget cut have on these departments and to our overall deficit? >> it would have a significant impact. these would be the biggest cuts since eisenhower was president. but there's no point in really talking about it because there's never going to happen and president trump has shown no inclination whatsoever to actually cut spending. huge spending increases. under his presidency. you know, up 17%, nearly $2 trillion in new debt. he doesn't care about cutting spending. this is a rhetorical device simply to pay lip service...

It's growing by 2.4%. the rate of growth is slowing. in 2020, the projection slips to just 1.7%. that is not all. keep in mind, the president keeps saying 4, 5, 6%. these are the numbers we're actually talking about. the cbo has fresh projections now for the u.s. budget deficit, topping $1 trillion by fiscal year 2020. that is up, by the way, from $804 billion in 2018 and $981 billion in 2019. the spiking deficit courtesy of a $1 trillion in tax cuts and roughly $300 billion in new spending increases. and despite numerous promises from this administration, those tax cuts are not saving most am...