The Logical Leftist
@logicallyleftist·273K subscribers·15.5K videos
Senate Tax Plan Would Gut Medicare, Student Loans
Posted
November 16, 2017
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4,975
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November 16, 2017
4,975
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"According to the CBO, since the GOP's Tax Cuts and Jobs Act is expected to add roughly $1.5 trillion in new debt over the next 10 years, Paygo would force spending cuts of $150 billion a year on average to offset the reduced revenue.
The letter from the CBO said the cuts in 2018 would total $136 billion, including slashing the budget to core programs like Medicare. The CBO said Paygo would force a cut of $25 billion from Medicare — the maximum amount allowable — and then cuts totaling "between $85 billion to $90 billion" from other programs like the federal student-loan program and farm subsidies."
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