WASHINGTON (AP) — When did Republicans stop worrying and learn to love budget deficits?
Over the next decade, their tax plan would add at least $1 trillion to the national debt. That would be on top of an additional $10 trillion in deficits over the same period already being by forecast by the Congressional Budget Office. As a share of the economy, the national debt would be rising to levels last seen during the height of World War II.
Republicans gained control of the House and Senate as well as the White House, said Robert Bixby, executive director of the Concord Coalition, an advocate for fiscal responsibility. Its all-inclusive control gave the party the leverage to focus on slashing tax cuts, rather than taking the sometimes painful steps required to curb the debt, which would likely do little on the eve of an election year to rally their donors and base of voters.
“When you don’t have to make legislative compromises and have things you want to do, it’s easy to set aside fears about the budget deficit,” Bixby said.