A new report from the Congressional Budget Office predicts the federal deficit will balloon past $1 trillion in the next two years. That takes into account the Republicans 1.5 trillion dollar tax overhaul signed into law last year, and a $1.3 trillion bipartisan spending bill last month.
Republicans often blame programs like Medicare in deficit discussions, and to one group of economists, that is “dishonest.” The economists, writing in The Washington Post, say such programs don’t deserve all blame and that large tax cuts and unfunded wars have been big contributors to the deficit.
Martin Neil Baily, former chairman of the Council of Economic Advisers under President Clinton, co-wrote the piece, and joins Here & Now‘s Lisa Mullins.
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