“The Congressional Budget Office projects that this year’s deficit will be $897 billion — a 15.1 percent increase over last year’s imbalance of $779 billion. In the coming years, the CBO forecasts that the deficit will keep rising, top $1 trillion annually beginning in 2022 and never drop below $1 trillion through 2029. “
From: talkingpointsmemo.com
This is a direct result of the GOP tax scam. And they will use the debt scare they created via the tax cut to argue for gutting social security and medicare. This is exactly what everyone said while the GOP was passing the bill on a party line vote with no debate and no amendments from the democrats.
This isn’t something new, it’s well documented and has been for two decades now. Bruce Bartlett wrote about in the early 2000s confirming it. One link is here: http://www.independent.org/pdf/tir/tir_12_01_01_bartlett.pdf
