In short, we are beginning to run historic deficits in a time of prosperity. Whatever the economic theory behind this, it bears no resemblance to the limited government-balanced budget philosophy of the party of Ronald Reagan.
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Reagan was unable to control spending, and Trump isn’t having any luck either.
The best we can do is to keep the economy growing, which makes people less dependent on the government. Preventing the Federal Reserve from causing recessions is important, along with cutting regulations.
Avoid destroying the supply side of the economy, which was done in Zimbabwe and Venezuela. Look at their results.
“...limited government-balanced budget philosophy...”
Does not, can not exist in our self-enriching, graft heavy, nepotistic, RICO-style federal government.
Those cesspoolers will survive just fine with their stashed money, along with the lifer fed grunts with their very nice retirements and healthcare plans.
It’s just like the older UAW workers when GM deeply cut the hire-in rate years ago. “Hey, we got ours. Tough chit for them.”
Congress makes the budget. The POTUS either signs it or shuts down the gubmint. Not much of a choice.
Because there is no real desire to cut any spending.
No one is willing to give up the SS, charitable deductions, or any other "benefit" in our current system.
As long as the lights are on, groceries are in the store and sports are on all will be right with the world.