WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement today after the U.S. Department of Treasury and the Office of Management and Budget issued a joint report announcing that the federal deficit rose 17% during Fiscal Year 2018:
“Today’s announcement by the Trump Administration that the federal deficit rose 17% to reach $779 billion in Fiscal Year 2018 is the direct result of a Republican-led Congress and White House choosing to provide massive tax breaks to the wealthiest Americans. In fact, if they had not given their wealthy donors a massive tax giveaway, the deficit would have improved rather than rising by $113 billion.
“The truth is that Speaker Ryan and other Republican leaders have made it crystal clear that Republicans intend to make up the budget shortfall resulting from their tax scam by cutting from Social Security, Medicare, and Medicaid. Americans should take Republicans at their word – and take Democrats at ours that we will fight to stop it.”