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About those tax cuts that are supposed to pay for themselves

Kimberly Adams Oct 18, 2018
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Senate Majority Leader Sen. Mitch McConnell listens during a news briefing after a weekly Senate Republican policy luncheon Oct. 10, 2018. McConnell blames the budget deficit on social security and Medicare.  
Alex Wong/Getty Images

There’s been a lot of talk lately about the budget deficit, which, at last count, is up 17 percent over last year. That’s what happens when the government spends $779 billion more than it collects in revenue, also known as taxes. Seems we’re paying the price for one of the biggest tax cuts in history, a tax cut that was supposed to pay for itself.

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