Trump administration lies about the deficit

Larry Kudlow says the deficit is “coming down rapidly,” contradicting virtually all available data.

Deficit Jan to April 2018 = $161 billion
Deficit Jan to April 2017 = $135 billion https://t.co/HQoLDSdODU @JStein_WaPo

— Heather Long (@byHeatherLong) June 29, 2018

But Hassett was also lying, claiming that the deficit surge was because of spending; actually it's because revenue, especially corporate taxes, has plunged 1/ https://t.co/zEuAOZ5r7x

— Paul Krugman (@paulkrugman) June 30, 2018

Federal deficit by year:

2009: $1.4 Trillion
2010: $1.29 Trillion
2011: $1.29 Trillion
2012: $1.0 Trillion
2013: $679 Billion
2014: $484 Billion
2015: $438 Billion
2016: $585 Billion
2017: $666 Billion
2018: $804 Billion (projected)

My friend @larry_kudlow is lying. https://t.co/nti7otXX4W

— Keith Boykin (@keithboykin) June 29, 2018

Kudlow said deficit is “coming down rapidly.”

A couple days prior, fellow White House adviser Kevin Hassett said the deficit was “skyrocketing.” https://t.co/5owOE0vJ45

— Aaron Blake (@AaronBlake) June 30, 2018

Kudlow to FBN: "The deficit…is coming down. And it’s coming down rapidly."

This isn't accurate.

On a 12-month basis, the deficit as a share of GDP rose to 3.8% in May from 3.2% one year earlier. pic.twitter.com/2JhiPRyKX1

— Nick Timiraos (@NickTimiraos) June 29, 2018

ICYMI: America's debt is headed for the highest levels since World War II.

Current debt-to-GDP level = 78% (highest since 1950)
CBO projection for 2028 = 96%
By 2034, America's debt-to-GDP could surpass the peak of 106% recorded in 1946https://t.co/u2n41Dp7AC by @JStein_WaPo pic.twitter.com/E4qn7Jil8C

— Heather Long (@byHeatherLong) June 27, 2018

Kudlow says the rising deficit is falling, Mnuchin says tax cuts pay for themselves as Treasury boosts debt sales, Hassett defends tariffs but won’t show his study that shows they will blunt economic growth. https://t.co/f10IiqbyA8

— Alan Rappeport (@arappeport) June 30, 2018

HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA I’ll have the drugs he’s having HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA!!! https://t.co/tSRjcmFdQy

— Daniel W. Drezner (@dandrezner) June 29, 2018