Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
SHOCKER! Republicans Are EXPLODING National Debt
Posted
November 12, 2017
Views
125,730
Likes
2,692
Comments
801
Engagement
2.78%
November 12, 2017
125,730
2,692
801
2.78%
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6:12Now PlayingThe GOP loves to preach about fiscal conservatism…until they have the presidency. John Iadarola, Jimmy Dore, and Ron Placone, the hosts of The Young Turks, tell you how much they’re adding to the debt. Tell us what you think in the comment section below. Join TYT
“The GOP’s tax bill would add $1.7 trillion to the national debt over the course of a decade, and increase the country’s debt-to-GDP ratio by 5.9 percentage points, according to the Congressional Budget Office.
The CBO analysis relied on the Joint Committee of Taxation's finding that the bill would cut revenues by $1.4 trillion, which falls within the level Republicans allowed themselves in their budget resolution. Still, the additional cost of debt servicing would mean that the overall debt would increase by $1.7 trillion.
The GOP allowed themselves up to $1.5 trillion of deficit increases over a decade in their budget. Despite the additional costs of servicing debt, the tax plan stays within the bounds, which means Republicans will still be able to pass the bill through budget reconciliation, a procedure that only requires a simple majority to pass in the Senate.”
Read more here
Hosts: John Iadarola, Jimmy Dore, Ron Placone
Cast: John Iadarola, Jimmy Dore, Ron Placone
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Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. A young person who rebels against authority or societal expectations.(American Heritage Dictionary)
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