Politics ESSENTIAL WASHINGTON

Here's our look at the Trump administration and the rest of Washington:

BudgetCongressTrump

Republicans once railed against deficits. Now President Trump's tax plan piles on more than $2 trillion in red ink

House Speaker Paul D. Ryan on Capitol Hill last month. (J. Scott Applewhite / Associated Press) None
House Speaker Paul D. Ryan on Capitol Hill last month. (J. Scott Applewhite / Associated Press)

Not long ago, Paul D. Ryan stood before charts and graphs as the House Budget Committee chairman like a new Ross Perot, promoting an austerity plan that slashed taxes and spending, and warning of the dangers of deficits.

“The facts are very, very clear: The United States is heading toward a debt crisis,” he said then. “We face a crushing burden of debt which will take down our economy, which will lower our living standards.”

Now as House speaker, the Wisconsin Republican is undergoing a role reversal, championing President Trump’s tax cuts, which promise massive tax cuts for corporations and, to some extent, individuals — and which experts say will add some $2 trillion to the nation’s red ink over the next decade.

It’s a sizable shift for Ryan, and he’s hardly the only one. The Republican majority, which swept to power just a few years ago, in part by warning of then-President Obama’s run-up of debt, now plays down concern over deficits. Economic growth must take priority, many Republicans say, and will ultimately take care of worries about red ink.

Latest updates

Copyright © 2017, Los Angeles Times
EDITION: California | U.S. & World
68°