"If not for the Bush tax cuts, debt/GDP would be⬇️indefinitely. Extending the Trump tax cuts would⬆️upward pressure on debt/GDP by >50%. Rs who pretend to care about debt are left pretending tax cuts pay for themselves.
Why do I say extending the Trump tax cuts would⬆️upward pressure on debt/GDP by more than 50%?
The fiscal gap measures how much primary deficit reduction you need to stabilize debt/GDP.
It's ~1.5% of GDP now.
Extending the Trump tax cuts would⬆️it to ~2.5%."
-B Kogan
