Donald Trump Has Finally Done Something: He’s Increased the Deficit By a Trillion Dollars

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This is pretty amazing. Donald Trump hasn’t actually done much of anything in the past five months except flap his jaws. But it’s been some pretty expensive flapping. CBO’s last projection of the federal deficit was released in January. Literally nothing has happened since then except for Trump shooting off his piehole every day and congressional Republicans demonstrating that they can’t control their own lunatics. But that’s been enough. CBO’s projection of the federal deficit over the next decade has already increased nearly a trillion dollars:

The deficit in 2017 alone is projected to be $134 billion higher than CBO estimated when Obama left office. Why? “One reason for the sharp rise in the deficit in 2017 is the slow growth in revenue collections through May and the slow growth expected for the rest of the year.” And why is revenue collection so slow? CBO doesn’t say, but here’s a good guess:

The one thing that Republicans have made clear is that they’re really, really committed to cutting taxes on the rich. And they’ll probably make the tax cuts retroactive too. So why not lowball your quarterly tax payments in hopes they come through? It’s probably a pretty good bet.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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