CBO projects grim budget outlook under Trump

BY NIV ELIS - 06/26/18 10:18 AM EDT

A new report from the Congressional Budget Office (CBO) projects a grim fiscal outlook for the United States, which is seeing rising red ink under President Trump.

In 30 years, the U.S. debt burden is projected to double, eclipsing even the debt carried by the United States during World War II.

Payments the U.S. government makes to China and others holding U.S. debt would surpass projected Social Security spending in 2048, the report found. Interest payments will also exceed discretionary spending, the amount that Congress approves for defense and nondefense spending each year, which is projected to hit 5.4 percent of gross domestic (GDP) product by 2048.
Most of the rising debt is related to an aging population and rising entitlement spending, problems that were bedeviling the United States well before Trump’s election.

http://thehill.com/policy/finance/394142-interest-payments-to-exceed-social-security-cost-by-2048-cbo

The cause of the rising debt is not "entitlements" , I hate that fucking word, its because of tax cuts.