The latest data on spending and revenues from the Treasury Dept.
Two-thirds of the entire increase in spending is due to just other three items in the budget: health care spending, Social Security, and interest payments on the debt.
In other words, it's entitlement spending - and more specifically, health care spending - that is driving up the deficit, not tax cuts.
The latest bipartisan budget deal, which Trump signed earlier this year, hikes spending above its already projected growth levels by $320 billion over the next years.
Defense spending got a boost, but only in exchange for an even bigger hike in domestic spending.
Overall spending growth averaged just 3% from 1994 to 1999.
Trump has promised to get tough on spending next year.
https://issuesinsights.com/2019/08/13/its-the-spending-stupid/
Two-thirds of the entire increase in spending is due to just other three items in the budget: health care spending, Social Security, and interest payments on the debt.
In other words, it's entitlement spending - and more specifically, health care spending - that is driving up the deficit, not tax cuts.
The latest bipartisan budget deal, which Trump signed earlier this year, hikes spending above its already projected growth levels by $320 billion over the next years.
Defense spending got a boost, but only in exchange for an even bigger hike in domestic spending.
Overall spending growth averaged just 3% from 1994 to 1999.
Trump has promised to get tough on spending next year.
https://issuesinsights.com/2019/08/13/its-the-spending-stupid/
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