October 16, 2018 - Washington, D.C. – Democratic Leader Nancy Pelosi issued this statement following a report by the Trump Administration’s own Treasury Department that the U.S. budget deficit rose 17 percent to $779 billion in FY2018, the highest level since 2012, due to the deficit-increasing consequences of the GOP Tax Scam:

“The bitter reality of the Republicans’ tax scam dishonesty is laid bare by the Trump Administration’s own report.  Republicans passed a tax scam for the rich that is adding $2 trillion to the deficit in order to give massive tax breaks to Big Pharma, big banks, big corporations shipping jobs overseas and the wealthiest 1 percent.  

“Under the Republican agenda, the rich get richer, and everyone else is stuck paying the bill.  Republicans have exposed their true agenda in budget after budget: add trillions to the deficit, and then use those deficits to justify slashing the Medicare, Medicaid and Social Security that seniors and families rely on. 

“Democrats are For The People: lowering health costs and the price of prescription drugs, increasing pay and driving strong growth by rebuilding America, and cleaning up corruption to make Washington work for the people.”
Source: Democratic Leader Nancy Pelosi

Related Information: CBO Monthly Budget Review for September 2018 Finds the Federal Budget Deficit Was $782 Billion for Fiscal Year 2018 as Corporate Income Tax Receipts Fall