Tax cuts and pandemic relief measures enacted during the Trump administration added $8.4 trillion to the national debt over the 10-year budget window, according to a study released Wednesday by a top budget watchdog group.

Discretionary spending increases from 2018 and 2019 added $2.1 trillion, Trump’s signature Tax Cuts and Jobs Act added $1.9 trillion and the 2020 bipartisan CARES Act for pandemic relief added another $1.9 trillion, the Committee for a Responsible Federal Budget (CRFB), a Washington think tank, found in a study released earlier this month.

“Of the $8.4 trillion President Trump added to the debt, $3.6 trillion came from COVID relief laws and executive orders, $2.5 trillion from tax cut laws, and $2.3 trillion from spending increases, with the remaining executive orders having costs and savings that largely offset each other,” budget experts with the CRFB wrote in a summary of the report.

The only significant deficit reduction enacted by the Trump administration noted in the report was due to tariffs levied on a variety of imported goods, which are calculated to have brought in $445 billion over 10 years.

  • Zuberi 👀@lemmy.dbzer0.com
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    8 months ago

    The illusion of choice for you must be very fulfilling to be defending it so vehemently.

    The rest of us will not vote for either Biden or Trump because that’s the morally correct thing to do.

    The DNC knows this, and has decided to sit on their ass (yet again), just like they did in 2016.

    • bluetoque@lemmy.ca
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      8 months ago

      Speaking as a non-American who is forced to deal with your shit, the morally correct thing to do is to keep that fascist asshole out of power. Hold your nose if you have to, but vote for Biden. Have some fucking perspective. You are unbelievable.

    • kurwa@lemmy.world
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      8 months ago

      If you don’t vote, then you’re giving it to Trump, essentially voting for him.