Wednesday, March 1, 2017
There's lots to like in Trump's speech, but . . .
We can't afford $1 trillion in infrastructure spending and it won't accomplish what people say it will. We are $34 TRILLION behind in spending of all kinds, but that's obviously out of the question. Debt service payments at rock bottom interest rates already exceed 10% of the $4 trillion budget. This is the price we are paying now . . . FOR PREVIOUS "PROSPERITY", which was only borrowed.
Paid family leave, a new entitlement, will cost government and employers a fortune, subduing hiring.
Adding refundable tax credits for health insurance premiums paid by taxpayers to a tax system which already includes the Earned Income Tax Credit is a back door introduction of another new entitlement. It could end up costing the country tens of billions in lost tax revenue each year.
These proposals could be political feints on which he will ultimately never deliver, simple red meat for moderates and liberals thrown out there to garner bipartisan support for his overall program.
Only time will tell.
Posted by a countryman at 6:25 PM