CBO Blows Up Democrats’ Spin on Taxes

House Speaker Nancy Pelosi (D-CA) holds her weekly news conference at the U.S. Capitol in Washington, D.C., October 12, 2021. (James Lawler Duggan/Reuters) The numbers make it clear that the underlying driver of deficits is abnormally high spending rather than abnormally low levels of taxation.

NRPLUS MEMBER ARTICLE A s Democrats argue among themselves about how many trillions of dollars to spend, a new report from the Congressional Budget Office has significantly undermined one of the key arguments they are using to justify their fiscal recklessness.

At the heart of the liberal disregard for fiscal restraint is the idea that because Republicans passed the Trump tax cuts in 2017, passing a raft of new social-welfare programs now is perfectly responsible. While it is undeniable that Trump-era Republicans were profligate, it’s worth noting that at the time of passage, the CBO estimated that the Trump tax cuts would increase deficits by …

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