The cause of the shortfall is pretty clear: a hit to tax revenue from the GOP tax cuts, combined with higher spending, equals deeper deficits. But what to do about the deeper fiscal hole—if anything—has turned into a hot debate. "And those tax cuts disproportionately will flow to corporations...and the already wealthy." Republicans argue the tax cuts have helped fuel continued economic expansion and strong job growth. And the cuts Mr. Trump is proposing would only make a small dent.

Source: Wall Street Journal October 20, 2018 18:56 UTC