Ever since the midterm elections, the mainstream media has been busy trying to convince the American people that the national deficit has been soaring out of control. Some members of the media have been trying to blame the Republican tax cuts for the allegedly soaring national deficit. What they aren’t telling the American people is the although the national deficit is rising, it is NOT soaring. They also aren’t telling the American people that tax revenues are setting record highs thanks to the Republican tax cuts, just as Trump and Republicans predicted. Investor’s Business Daily – No, The Deficit Isn’t ‘Soaring,’ And Yes, Tax Revenues Are At Record Highs – Budget: In the first two months of the new fiscal year, tax revenues are up. But so is the deficit. Why? Because spending continues to outpace revenues. So why do tax cuts keep getting blamed? The latest monthly budget report from the Congressional Budget Office shows the deficit jumping $102 billion in just the first two months of the new fiscal year. That sure looks like the deficit is “soaring,” as one news outlet claimed. But as the CBO makes clear, almost all that deficit increase was the result of quirks of the calendar. Depending on where weekends fall, significant sums of spending can get shifted into different months. A true apples-to-apples comparison, the CBO says, shows that the deficit climbed by just $13 billion. So, no, the deficit is not soaring… As you can see, the only thing that seems out of control is federal spending. Both Democrats and Republicans are responsible for the spending. It’s time the American people demand the government be run like any business with a balanced budget, just like we are supposed to do with our own households. READ MORE HERE
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