Moody's on Friday lowered its outlook on the U.S. credit rating to "negative" from "stable" citing large fiscal deficits and a decline in debt affordability, a move that drew immediate criticism from President Joe Biden's administration.
The 2017 tax cuts Trump implemented massively increased the debt. Obviously, that was before the pandemic. Those tax cuts were stupid and directly to blame for a significant icrease in the debt. Which is the opposite of what Trump claimed would happen.
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Never thought I’d defend Trump, but he was in office during the start of the pandemic, one of the largest systemic shifts in society in decades.
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The 2017 tax cuts Trump implemented massively increased the debt. Obviously, that was before the pandemic. Those tax cuts were stupid and directly to blame for a significant icrease in the debt. Which is the opposite of what Trump claimed would happen.
https://www.taxpolicycenter.org/briefing-book/how-did-tcja-affect-federal-budget-outlook