Robert Reich: The yuge Republican lie about the deficit

Mainly because of Republican tax cuts on corporations and the wealthy. The big Trump Republican tax cut is already breaking the bank. It will cost us 1.9 trillion dollars over the next decade. Let me repeat that: 1.9 trillion dollars.

Remember, Trump and Republicans in Congress claimed that their tax cuts for the wealthy and corporations would pay for themselves by boosting economic growth. It’s the same trickle-down fairy tale they’ve been telling for decades. But according to the Congressional Budget Office, they haven’t paid for themselves, and the deficit continues to balloon.

If there’s one area where America spends too much, it’s the military. Since taking office, Trump has increased military spending by more than $200 billion a year, straining the federal budget even further. The United States already spends more on the military than the next 10 nations combined.