In a “Reality Check” segment on CNN on Thursday morning, contributor John Avlon called out GOP fiscal hawks who have suddenly disappeared from the public square now that a Republican president has exploded the national debt.
Introduced by host John Berman, who asked, “This morning new numbers from the Congressional Budget Office (CBO) confirm it: The national debt and deficit are much worse than thought. So where is the party of fiscal responsibility in times like these?” Avlon broke it down.
“While President Trump was busy proclaiming himself ‘the chosen one,’ you might have missed more bad news in the form of data,” Avlon smirked. “Brand new CBO numbers shows the budget deficit is skyrocketing, projected to rise 25 percent over last year and heading to over $1 trillion next year. Tax revenues are $430 billion below where they were expected to be before the Trump tax cuts while spending in is in drunken sailor territory adding $1.7 trillion in the next decade.”
“Put it another way, deficits have risen from a decade low of 2.4 percent over Obama to a projected average 4.7 percent of GDP over the next decade,” he continued before adding, “Remember, all this is happening during the nation’s longest economic expansion when deficits should be shrinking.”
Pointing to comments made by Trump attacking President Obama on deficits when he was running for president, Avlon focused in on Sen. David Perdue (R-GA) who was also a critic.
“Hypocrisy is palpable, but for some senators it’s absurd,” he explained. “From example, Georgia’s David Perdue who resorted to magical thinking when he voted to increase spending after voting for the tax cuts. He penned an op-ed that a vote against the budget was a vote to increase spending while he told an editorial board that it was more than paid for by the tax cut — that’s just not true.”
“Of course the bill to increase spending did, in fact, increase spending,” he charged. “Senator Perdue is a symptom of a larger problem; the abandonment of fiscal responsibility by Republicans while railing against the fiscal of Democrats. It bears repeating the last two presidents to shrink the deficits were Democrats: Clinton and Obama.
“All of us talk about concern for the deficit and budget has been bogus for as long as it’s been around,” he continued. “While President Trump was tweeting out a claim he was like the king of Israel, clearly the only crown he can claim is the one he can lay on himself some time ago, the King of Debt.”