America's national debt will never, ever go down

If Republicans really cared about deficits and debt — during the Obama years they claimed the big federal budget gap could spark another financial crisis — they could have flatly rejected any tax plan that reduced government revenue. To now count on entitlement reform to make up the difference is hardly a second-best solution. Messing with Medicare and Social Security is even more politically treacherous than the failed attempt to repeal ObamaCare, given the GOP’s dependence on older voters.

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Moreover, President Trump has repeatedly put those programs off limits. Sure, White House economic adviser Gary Cohn recently said that reforming “welfare” could be on the agenda — but only after fixing regulation, taxes, and infrastructure. So more of a tomorrow thing, if ever, because nothing will likely happen without strong presidential leadership. And Donald “I’m the king of debt, I love debt” Trump has given little indication that he has evolved into a budget hawk. Finally, it is hardly likely that congressional Republicans will have more political power after the 2018 midterm elections than they do right now.

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