Trump’s new Sec of Treasury 3-3-3 plan

[Finance85]

Tax cuts were paid for with deficit spending. The biggest increase in spending was defense. It’s all related and not a binary situation. We are both correct. My quip is simplistic. When the reality is not.

Ypou ignore history though. Tip O'Neill was responsible for the spending, via a deal with Reagan. Tax cuts also increased revenue (see Laffer Curve), not reduced revenue. Unfortunately, just as what happened in Ireland, spending outpaced revenue.