Democrats seek to cut U.S. budget deficits in half
The chairman of the U.S. House of Representatives Budget Committee on Tuesday said he and other senior Democrats aim to write a fiscal blueprint this year that would cut annual budget deficits by 50 percent in the next 10 years, possibly including tax hikes on corporations and the wealthy.
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Annual federal budget deficits are hurtling toward $1 trillion and Yarmuth said it is not going to be easy to cut them by half a trillion dollars by around 2029, especially given looming economic cross-currents and a Republican-controlled Senate hostile to tax increases.
We have so many threats to the economy going on with trade wars and a slowdown in other (nations) economies, said Yarmuth, who took control of the Budget Committee early this month with the new Democratic majority in that chamber.
The odds of there being a significant slowdown if not a recession are pretty substantial, Yarmuth said. -
PoliticusUSA
Cleaning up after the conservative libertarians.
The recurring theme.