Deficit Skyrockets Because of Tax Cuts, But McConnell Says It’s ‘Not a Republican Problem’

Mitch McConnell
Photo by Chip Somodevilla/Getty Images)

The United States budget deficit just hit its highest peak in six years under the Trump administration, and according to Bloomberg analysis, it’s due to tax cuts and increased spending.

The deficit now sits at $779 billion, which is bad news for the country’s $21.5 trillion debt.

Senate Majority Leader Mitch McConnell said the deficit problem is not because of the party that has controlled Congress and the White House for the past two years.

“It’s disappointing, but it’s not a Republican problem,” McConnell told Bloomberg on Tuesday. “It’s a bipartisan problem: unwillingness to address the real drivers of the debt by doing anything to adjust those programs to the demographics of America in the future.”

McConnell blames Medicare, Medicaid, and Social Security for the rising deficit, even though the tax cut that passed in 2017 is estimated to add $1 trillion to the national debt.

Senate Minority Leader Chuck Schumer called out the Republican-backed tax cut today in a video released to his Twitter, which shows multiple clips of McConnell insisting the bill is “revenue neutral” and wouldn’t add to the deficit.

Watch:

Sen. Bernie Sanders (I-Vt.) highlighted McConnell’s focus on blaming entitlements instead of other policies.

“Mitch McConnell wants to cut Social Security, Medicare and Medicaid to pay for Republicans’ massive giveaway to the rich and large corporations,” the Vermont senator tweeted Tuesday. “Enough! The American people must stand up and make clear to McConnell that we will expand, not cut, programs working people rely on.”

President Donald Trump has yet to address the latest deficit numbers, but he criticized deficits under the Obama administration, even suggesting in 2012 that lawmakers should be barred from re-election if they couldn’t balance the nation’s budget.

Now, the Senate Majority Leader believes the solution is in cutting some of the nation’s most popular programs.

Democrats aren’t buying it. House Minority Leader Nancy Pelosi said in a statement, “Under the GOP’s twisted agenda, we can afford tax cuts for billionaires, but not the benefits our seniors have earned.”

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Patrick
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Patrick

Mitch McConnell is a douche and his days are numbered

Phyllis Softa
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Phyllis Softa

Interesting that zero Trumpsters on SS and Medicare have a comment on being blamed for the deficit in the budget.–Blamed not by Hillary Clinton, or George Soros, but by Mitch McConnell. Zero comments on how they were so certain that this was the time tax cuts would pay for themselves.… Read more »

Phoenix
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Phoenix

The deficit is only a major issue when the Democrats are in power. If not, then who cares?

WhyNot
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WhyNot

“It’s a bipartisan problem: unwillingness to address the real drivers of the debt by doing anything to adjust those programs to the demographics of America in the future.” In other words – McConnell is saying that republicans want to steal from the poor and old to give to the rich!… Read more »

1ntrepid
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1ntrepid

But, Mitch. I thought that you said that if you cut taxes that it will trickle down to the workers and we would average over $4K increases in wages. The US now had to pay about $534B in just interest. You are going to make us pay that off. Republicans… Read more »

Anonymous
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Didn’t these republican scumbags just increase military spending? It’s always social security and medicares fault. Not wars started by Republicans and tax breaks for the rich co*ksu*kers. Mitch McConnel is yet another entitled rich piece of sh*t.

Curtis Eggemeyer
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Curtis Eggemeyer

There is no war, just a cow that milks in the middle east and keeps on milking. Rhumsfelds 90 day invasion was nothing but a sham.

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