Donald J. Trump’s tax “reform” plan appears to be a prescription for doing something that used to be anathema to Republicans.
It will blow apart the national budget deficit.
I recall a day when deficits actually mattered to Republicans. The GOP spent a lot of political energy and capital during the eight years of Barack Obama’s presidency to lambaste the president for expanding the national debt, even though the annual budget deficit was cut by two-thirds during Obama’s two terms.
Flashing back to 1980, I want to recall how Ronald Reagan managed to be elected president. He and his fellow Republicans tore congressional Democrats — and President Carter — to pieces because they were running deficits that exceeded $40 billion annually.
Forty billion dollars!
Don’t you wish that were the case today?
Well, deficits no longer seem to matter. Republicans have joined their Democratic colleagues as political spendthrifts. Trump is going to cut taxes for his fellow wealthy Americans; his administration calls it the greatest tax cut in history. The spending will go on. The deficits are likely to soar. Won’t that pile more money onto our national debt?
Where is the outrage over that?
