As Deficit Soars Toward $1 Trillion, Congress Shrugs and Keeps Spending
Source: MSN/NY Times
WASHINGTON — Treasury Secretary Steven Mnuchin urged Congress on Tuesday to raise the federal government’s statutory borrowing limit and said Washington must soon grapple with the mounting federal debt, just as lawmakers are embarking on a significant spending spree.
Annual deficits are creeping up to $1 trillion a year and the national debt has topped $20 trillion. On Monday, Treasury said that the United States will need to borrow $441 billion in privately-held debt this quarter, the largest sum since 2010 when the economy was emerging from the worst downturn since the Great Depression.
Yet the need to deal with the federal debt seems to have taken a back seat to other priorities, including the $1.5 trillion tax cut increased defense and domestic spending, and an expected infrastructure request from President Trump.
“The president is very much concerned about the rate of increase of the debt and particularly the rate that it grew over the last eight years,” Mr. Mnuchin said during a Senate Banking Committee hearing. “Over time we need to figure out where we can have government savings to deal with the deficit.”
Read more: https://www.msn.com/en-us/news/politics/as-deficit-soars-toward-dollar1-trillion-congress-shrugs-and-keeps-spending/ar-BBIulsl?li=BBnb7Kz&ocid=UE01DHP
Don't worry. Republicans will rediscover austerity when a Democrats gain control of any branch of government.
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Give back your Republican 'gift' of a tax scam, you scum wad. 
What an asshole. Republicans give away $1.5 trillion and THEN say we have to cut the deficit?
