For all you fans of massive government spending — that means you, Mr. Trump — I'm sure you'll be pleased to hear that the federal deficit grew at an astonishing 32% through the first 11 months of the year to $895 billion -- an increase of $222 billion over 2017.
The nonpartisan CBO reported that the central drivers of the increasing deficit were the Republican tax law and the bipartisan agreement to increase spending. As a result, revenue only rose 1 percent, failing to keep up with a 7 percent surge in spending, it added.
Do you mean to tell me that if you spend more than you take in, you run a deficit? What an exciting idea!
Revenue from individual and payroll taxes was up some $105 billion, or 4 percent, while corporate taxes fell $71 billion, or 30 percent.
But... but... but... what about the theory that we'll "grow" our way out of the deficit? "Nevermind," as Emily Litella would say.
Republicans won't say anything about trillion-dollar deficits because they're in charge. Democrats can't say anything about trillion-dollar deficits because they didn't care about them when they were in charge.
And if the politicians aren't saying anything about trillion-dollar deficits, the media has nothing to report and won't talk about it either.
As Chester A. Riley used to say: "What a revoltin' development this is."