The federal budget deficit is ballooning on President Trump's watch and few in Washington seem to care. And even if they did, the political dynamics that enabled bipartisan deficit-cutting deals decades ago has disappeared, replaced by bitter partisanship and chronic dysfunction.
President Trump speaks in the Oval Office on March 6. The federal budget deficit is ballooning on Trump's watch and few in Washington seem to care.
Trump's budget arrives as the latest Treasury Department figures show a massive 77% increase in the deficit over the first four months of the budget year, driven by falling revenue and steady growth in spending. An administration official said Friday that the president's plan promises to balance the budget in 15 years. The official was not authorized to publicly discuss specifics about the budget before the document's official release and spoke on condition of anonymity
While in control of the House, Republicans used to generate nonbinding budget blueprints that promised to balance the federal ledger by relying on a controversial plan to eventually transform Medicare into a voucher-like program. But they never pursued follow-up legislation that would actually do it.
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