The president’s budget counts on economic growth to reach a balance, but his tax cut plan also relies on that growth to remain revenue-neutral. Tax and budget experts say that’s double-counting the same money.
In Sen. Ted Cruz’s twisted vision of economic history, Ronald Reagan cured double-digit unemployment by cutting spending and reducing the federal debt, and Jimmy Carter was guilty of “out-of-control regulation.”
In the real world:
Total federal spending soared during Reagan’s deficit-plagued first term, and the national debt nearly doubled. His budget director later resigned and wrote a book criticizing Reagan’s failure to cut spending.
And Carter signed landmark bills freeing airline, railroad and trucking rates from federal regulation,