December 14, 2018
THAT "DESPITE" IS PRECIOUS:
Federal Deficit For November Hits Record High Despite Tax Reform (David Thornton, 12/14/18, The Resurgent)
Tax reform stands as the one major legislative accomplishment of the Trump Administration. The measure became law a year ago and, as forecasted, jumpstarted growth in an economy that had been largely stagnant since the Great Recession. Unfortunately, tax reform has so far not lived up to its promise of paying for itself with that increased growth. In fact, the deficit for the 2018 fiscal year, which ended in September, is the largest in six years despite increased growth and revenues. [...]Despite the tax reform and the increased tariff taxes on trade, revenues were flat at $206 billion, about half of what the government spent.
Posted by Orrin Judd at December 14, 2018 7:19 PM