Source: Daily Beast (Link)
Donald Trump’s final tab is in. Legislation and executive actions signed by former President Trump added $7.8 trillion in ten-year budget deficits. When accounting for non-legislative budget savings, the total projected budget deficits expanded by $3.9 trillion over the decade.
It begins with the ten-year (2017-2027) budget baseline that Trump inherited in January 2017, and then measures all subsequent changes to those ten-year estimates that occurred during his presidency. This includes aggregating every line-item of every bill he signed, as well as the deficit shifts driven by economic changes and the Congressional Budget Office’s technical re-estimates of existing tax-and-spending policies.
OK. It’s the Daily Beast. Trump never campaigned on reducing the deficit and the GOP will continue to insist that you can cut taxes AND increase revenue. It has only worked when marginal taxes rates are prohibitively high.