There’s a dispute over how President Trump’s tax-and-spend bill will affect the national debt. President Trump last week declared himself a “fiscal hawk” and the White House claimed that the legislation approved by the House won’t increase budget deficits. But the Congressional Budget Office estimates the tax provisions would add more than 3-trillion dollars to […]
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Trump’s tax-and-spend bill could add trillions in debt
There’s a dispute over how President Trump’s tax-and-spend bill will affect the national debt. President Trump last week declared himself a “fiscal hawk” and the White House claimed that the legislation approved by the House won’t increase budget deficits. But the Congressional Budget Office estimates the tax provisions would add more than 3-trillion dollars to the national debt. And Moody’s downgraded America’s credit rating out of concern that the U.S government is heading toward an unsustainable mountain of debt.