"The Congressional Budget Office reported on Tuesday that, with one month to go, the federal deficit for fiscal year 2019 has already topped $1 trillion.
As night follows day, Trump administration critics blamed the tax cuts.
The CBO report says that the federal deficit reached $1.067 by the end of August.
...Where did the increase come from?
...But the report shows that revenues climbed 3.4% so far this fiscal year.
Spending, however, shot up by 6.4%.
Look within the data, in fact, and you see that the tax cuts are working as promised – by accelerating economic growth, they’re at least partially paying for themselves.
Take corporate taxes.
Ask any Democrat running for president and they will bemoan the tax “giveaways” to giant corporations.
What they won’t tell you is that corporate tax revenues are up 5%.
In fact, corporations paid $8 billion more in the 11 months of this fiscal year than they did in the same period of fiscal year 2018..."
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