Any good Kenysian would say that tax cuts are not good in times of peak economic growth. But the GOP thinks it was a great idea because GOP is well dumb as a rock on economic issues. Business Insider reports
"The Tax Cuts and Jobs Act was a strange piece of pro-cyclical economic legislation: Near the top of the economic cycle, the US government enacted a large, deficit-financed tax cut. This year, the federal government will need to borrow $1 trillion to meet its obligations, in large part because of this law.
We've gone through a strange 20-year period where it's mattered very little how much money the US government borrows. Demand for government bonds has been endless, and low-interest rates have coexisted with very high budget deficits. There has recently been little to no economic blowback from government borrowing.
But back in the dark ages, politicians used to spend a lot of time talking and worrying about the link between government borrowing, interest rates, and private investment."
Again, if we never cut taxes, we would not have to worry about budget deficits. You cut taxes in the middle of a recession and not during peak economic growth just so you can satisify some greedy corporate executives or dumb as rocks Wall Street investors.
The GOP lack of knowledge of economics never ceases to amaze me.
Greed is the Hungry Ghost. The more it eats, the bigger its stomach.