State of the Union Ignores Trillion-Dollar Deficits
For Immediate Release
President Trump delivered his third State of the Union Address last night. Notably absent from his speech was any mention of trillion-dollar deficits as far as the eye can see, the unsustainable growth of our national debt, and major trust funds on a path toward insolvency.
The following is a statement from Maya MacGuineas, president of the Committee for a Responsible Federal Budget:
In his State of the Union, President Trump failed to show the necessary leadership in dealing with the nation’s precarious fiscal situation – in fact, he failed to mention the federal debt at all. Trillion-dollar deficits are returning, the national debt is growing rapidly, and yet neither received so much as a passing mention. While the President discussed the economy and relations abroad, our over-indebted position leaves us vulnerable on both of those fronts.
The national debt has increased by $2.8 trillion since the day the President took office. Spending has increased by 17 percent. Furthermore, the President has signed into law a series of new reckless unpaid-for spending increases and tax cuts that will add $4.7 trillion to projected debt through the end of the decade. It will take presidential leadership to turn this situation around, and this was a dangerous missed opportunity.
When it comes to deficit reduction, it is easy to talk the talk and harder to walk the walk – but it appears the President plans to do neither.
For more information, please contact Ben Tomchik, deputy chief of staff, at email@example.com.