During his campaign, Donald J. Trump embraced the cause of fiscal responsibility and accused President Barack Obama of shackling the country with a “mountain of debt.”
Mr. Obama “doubled our national debt. Doubled it,” Mr. Trump claimed in a speech in Virginia Beach.
Then on Wednesday, Mr. Trump unveiled the outlines of his much-anticipated tax overhaul, calling for steep tax cuts with only modest offsetting revenue increases. Economists I spoke to this week estimate it would add trillions to the national debt over the next decade.
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