IT’s early to declare our side giving up on balancing or even cutting the budget. We really need to see what a difference the tax cuts will make in govt. revenue it could be huge,could cut the deficit we have to wait and see.
I agree that more revenue into the Fed is bound to happen when the tax cut sets in and GDP booms. But can you imagine instead of blowing a trillion dollar whole in the budget what a little austerity would do? I argue that the Feds would hold back on interest rate hikes and that the markets would continue to explode. The administration and the party shot themselves in the foot this past week.