Last updated on July 18th, 2023 at 02:03 pm
A new analysis reveals that Republicans in Congress are responsible for the current debt that they are trying to blame on President Biden.
The analysis is based on the forecasts that the C.B.O. regularly issues for the federal budget. They include descriptions of newly passed legislation that affects spending, revenues and deficits, tallying the costs of those new laws over the course of a decade. Going back to the start of Mr. Trump’s tenure, those reports highlight 13 new laws that, by the C.B.O.’s projections, will combine to add more than $11.5 trillion to the debt.
Nearly three-quarters of that new debt was approved in bills that gained the support of a majority of Republicans in at least one chamber of Congress. Three-fifths of it was signed into law by Mr. Trump.
Subscribe To Our Newsletter:
Many of these spending bills received bipartisan approval, but because of the Trump tax cuts for the wealthy, Republicans added more to the debt than Democrats.
The nation is heading for a showdown on the debt ceiling. House Republicans will continue to claim that spending was out of control under Biden and the Democrats while leaving out that they also voted to create most of the new debt through spending and tax cuts for the wealthy and corporations.
Republicans are holding a losing hand on the debt ceiling as they are trying to get spending cuts to cover the debt that they ran up with Donald Trump.
It will not happen because Republicans need to own their debt mess.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
- Top Senate Democrat Tells House Ethics Committee To Preserve Matt Gaetz Report - Thu, Nov 14th, 2024
- Matt Gaetz’s Nomination To Be Attorney General May Already Be Doomed - Wed, Nov 13th, 2024
- Trump’s Immigration Plan To Kill Jobs And Raise Prices - Wed, Nov 13th, 2024
