Thursday, December 27, 2018
Tax cuts
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Federal deficits are on the rise but not because of lower revenues but because of higher spending. The spending was bi-partisan since Trump wanted a large increase in military spending but the only way he could get it was to agree to a large increase in domestic spending. In other words the republicans have joined with the democrats to forget about the deficit and just spend.
Revenue
FY 2019 $3.422 trillion
FY 2018 $3.340 trillion
FY 2017 $3.320 trillion
The tax cuts kicked in in January of 2018 and gave the people $200 billion and revenue still increased.
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