Tag: ballooning deficits

Fiscal hawk Ryan leaves behind growing deficits and a changed GOP

The following article by Erica Warner was posted on the Washington Post website April 11, 2018:

House Speaker Paul D. Ryan (R-Wis.) made a name for himself as a deficit hawk, but backed a tax plan and a spending bill that are ballooning the national debt. (Video: Jenny Starrs/Photo: Matt McClain/The Washington Post)

Mitt Romney was all smiles as he introduced an ebullient Rep. Paul D. Ryan to the nation as his Republican vice presidential choice on a sunny Saturday in Norfolk in the summer of 2012.

“I did not make a mistake with this guy,” Romney boasted, as Ryan proclaimed himself “deeply honored and excited.” The crowd cheered. Continue reading “Fiscal hawk Ryan leaves behind growing deficits and a changed GOP”

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”