Charlotte Talks: A Deficit Hawk's View Of Tax Cuts And Economy
Wednesday, Oct. 3, 2018
The federal deficit is projected to balloon to more than $1 trillion next year. What threat does that pose to the economy, and future generations? Guest host Erik Spanberg talks with Marc Goldwein from the Committee for a Responsible Federal Budget.
If Republicans had their way, President Trump's $1.5 trillion tax cut from last winter would be the focus of the midterm election. The stump speech likely wouldn't have dwelled on the tax cut's role in deepening the federal deficit.
The Congressional Budget Office projected in September the deficit would hit $1 trillion in 2019, a year earlier than previous estimates.
Marc Goldwein with the non-partisan Committee for a Responsible Federal Budget said the short-term gains of the tax cuts would have long-term, negative consequences for the country.
Erik Spanberg, managing editor, Charlotte Business Journal (@CBJspanberg)
Marc Goldwein, senior vice president and senior policy director, Committee for a Responsible Federal Budget (@MarcGoldwein)