New analysis reveals that Republicans in Congress are responsible for the current debt they are trying to shift to President Biden.
The analysis is based on the forecasts that the CBO issues regularly for the federal budget. They include descriptions of recently passed laws that affect expenditures, revenues, and deficits, tallying the costs of these new laws over a decade. Going back to the start of Mr. Trump’s term, these reports highlight 13 new laws that the CBO projects will combine to add more than $11.5 trillion to the debt.
Nearly three-quarters of this new debt was approved in bills that won the support of a majority of Republicans in at least one house of Congress. Three-fifths of it was signed into law by Mr. Trump.
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Many of these spending bills received bipartisan approval, but because of Trump’s tax cuts for the wealthy, Republicans have added more to the debt than Democrats.
The nation is heading for a showdown over the debt ceiling. House Republicans will continue to claim spending was out of control under Biden and Democrats while leaving aside that they also voted to create most of the new debt through spending and government cuts. taxes for the wealthy and corporations.
Republicans have a losing hand on the debt ceiling as they try to get spending cuts to cover the debt contracted with Donald Trump.
It won’t happen because Republicans need to own their debt.
Jason is the editor. He is also a member of the White House press pool and a congressional correspondent for PoliticusUSA. Jason holds a bachelor’s degree in political science. His graduate studies focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and the American Political Science Association