But sustained and heavy deficit spending can have the opposite effect, raising borrowing costs and slowing GDP growth. Rising healthcare costs and an aging population are contributing to the federal budget mess. But the problem has been exacerbated by the large and irresponsible tax cuts Republicans pushed through in 2017. AdvertisementSlashing programs such as Medicaid and food stamps to help pay for the GOP tax cuts would be redistributing wealth in the worst way — from the impoverished to the well-to-do. The right answer starts with lawmakers rolling back the tax-cut and spending excesses of the Trump administration.

Source: Los Angeles Times January 29, 2020 10:52 UTC