“I’m not saying it’s mathematically impossible, but it’s very hard to imagine a solution that doesn’t have a tax hike and spending cuts as part of that”
The question is: Does either party care?
Last week, the White House and congressional leaders agreed on a two-year federal budget that will raise spending by $320 billion over existing budget caps and allow the government to continue borrowing. Republicans were once considered the party of fiscal responsibility, but GOP members in the House and Senate largely supported the bill, which President Trump is expected to sign.
“For the most part, that goal has been set aside for the Republicans,” said Marc Goldwein, the senior vice president and senior policy director for the Committee for a Responsible Federal Budget. “Cutting taxes has been more important than balancing the budget. The Republicans have really been more a tax cut party than a balanced budget party in recent years.”
Bob Bixby, executive director at the Concord Coalition, a nonpartisan organization advocating responsible fiscal policy, said it’s not just the Republicans. “It seems like fiscal responsibility became rather inconvenient,” he said. “Neither party is in favor of enforcing it right now.”
The Budget and Control Act of 2011 placed budget caps on Congress through 2021, but both parties have routinely voted to raise those limits to fund defense and social welfare programs.
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