While the Senate struggles to jam through a new $1-trillion-or-so Federal health care entitlement, it is important to not lose sight of the cumulative budget impact of the President’s entire first year. The President and the Democratic-controlled Congress have undertaken a breathtaking expansion of government – into the health care, financial and energy sectors, among others.
With control of both Congress and the White House, the Democrats have passed legislation that will boost spending by over $3 trillion through 2019; raise taxes by nearly $1.3 trillion; and increase deficits and debt by $1.7 trillion. The President and Democratic Majority’s major spending, tax, and deficit increases are summarized below, with hyperlinks to House Budget Committee Republican analyses.
Read the full report here.