There has been discussion about whether the Tax Cuts and Jobs Act actually reduces deficits and what will happen to U.S. debt. What do you think?
Watch this video: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates, CBO Says (https://www.bloomberg.com/news/articles/2018-04-09/u-s-budget-deficit-to-balloon-to-1-trillion-by-2020-cbo-says) The video cites the Congressional Budget Office (CBO). Discuss these questions in your post:
- Visit the CBO website (https://www.cbo.gov) and confirm that the reporting is accurate. Was the reporting accurate? Why or why not?
- Do you think the Tax Cuts and Jobs Act will reduce our deficits? Explain your answer.