The bipartisan committee that put a deal together Trump would sign are happy to have that part of their job behind them. Trying to come up with a solution for Mr. Trump’s unreasonable request for $5 billion to build 200 feet of border wall was stressful. The solution, according to the lawmakers who agreed to present the deal to Mr. Trump, included a little more than $1.3 billion to put up barriers where they make sense and several other security upgrades.
The president told the press he’s not happy with the deal. But he won’t shut down the government again. Trump claims the wall is under construction now. Mr. Trump claims he can secure funding by taking money away from existing projects. In Trump’s White House, money is never an issue. Mr. Trump likes to spend taxpayers’ money. The new Congress wants to stop him from implementing his imbecilic and often illegal plans. But Trump always finds a way to use deficit financing to get what he wants.
According to the Washington Post, Mr. Trump cost taxpayers more than $11 billion when he shut down 25 percent of the government. And his trips to Mar-a-Lago cost taxpayers millions when he decides to play golf and hide from reporters.
But the biggest Trump budget buster and the villain that could change the way Americans do business in the future is that insane tax cut Trump pushed through in 2017. Trump’s tax cut is not generating enough tax revenue to slow down the out-of-control national debt.
The National debt just hit $22 trillion this month. Trump added $30 billion to the national debt last month thanks to a complete disregard for budget boundaries. According to the CEO of the Peter G. Peterson Foundation, Michael A. Peterson, the national debt’s rapid acceleration will change the way consumers borrow money. The Feds will continue to raise interest rates because of the debt and that means getting a mortgage and getting car loans will have an impact on their personal budgets.
But Peterson also thinks health care costs, the aging population, and Trump’s trade war also contribute to the insane growth of the national debt. Mr. Peterson said the national debt will increase $1 trillion a year while Trump’s in office. But if Mr. Trump continues to spend money the way he did the first two years in office, the national debt will be hard to tame when a real president takes office.