What a surprise! Congressional Republicans rammed through their big tax cuts for the mega-rich and mega-corporations last December, and as predicted, the deficit for Fiscal 2018 skyrocketed. We ended the fiscal year on Sept. 30 with a deficit of $779 billion.
Sound economic practice is that government debt goes up in a recession and is paid down when the economy is good, as it is now. But not with the Republicans. According to National Public Radio, corporate tax revenue was down 31 percent in Fiscal '18, despite ample profits, thanks to that tax cut.
But also not surprisingly, those same Congressional Republicans began targeting social safety net programs soon after that tax cut. They've been working to re-brand them as "welfare" - handouts to undeserving deadbeats rather than help for Americans who work hard in low wage jobs.
Now with the deficit tally for Fiscal 2018 and a prediction of a $1 TRILLION deficit for Fiscal 2019, Senate Majority Leader Mitch McConnell is targeting Social Security, Medicare, and Medicaid.
This is among the many reasons we need to elect Democrat Diane Mitsch Bush to represent Colorado's 3rd District in Congress, help restore checks and balances in the federal government, and protect programs for non-rich Americans.