Republicans have labeled the rising national debt a dire threat to national security. Indeed, an ever-increasing federal debt constrains future defense budgets and severely limits the government's ability to respond to future conflicts or economic crises. Moreover, China is the single largest foreign holder of U.S. debt.
Ironically, however, virtually every one of the GOP voices now citing the national debt as a major national security threat voted for the 2017 tax cut, which is forecast to balloon the debt. Nearly two years following the passage of the tax law, its dramatic effects are coming into focus.
Read Full Article »