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The new Republican budget plan is unserious

Government debt currently stands at 100% of GDP, projected to rise to 117% by 2034 if tax cuts expire, according to the Committee for a Responsible Budget.
The new Republican budget plan allows for a net $3.3 trillion increase in deficits, which could total nearly $4 trillion including interest by 2034, according to the Committee for a Responsible Budget.
Since 2017, tax revenues have risen by 58%, while spending has surged by 75%, as noted by Ryan Ellis from the Center for a Free Economy.
Achieving the projected cuts would require the lowest discretionary spending share of GDP since the 1930s, as noted by Jessica Riedl from the Manhattan Institute.

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Reason

The new Republican budget plan is unserious

Glossy narratives do nothing to fix the nation's daunting debt trajectory, and budgets like this latest one from House Republicans push us closer to crisis.

3 days ago·United States

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OC Register

+2 Reposted by 2 other sources

The unserious new Republican budget plan

Serious problems should be met with serious solutions. We have serious problems, namely a fast-growing debt and a need to extend some tax cuts in an unforgiving environment where interest rates are high and inflation is rising again. Unfortunately, despite a new mandate, House Republicans have yet to rise to the occasion. Their latest budget blueprint shows that fiscal responsibility vanishes the moment real choices arise. As a reminder, governm…

3 days ago·Orange County, United States

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