A Deficit out of Control by Design

The federal deficit is out of control. It is growing faster than was expected. Shocking I know, but the tax cut is not paying for itself with economic growth. As usual, trickle-down fantasies are not trickling down and inflation is starting to eat away any actual wage growth.

None of this is surprising. In fact, some of this was expected. The tax cut worked as a short-term stimulus, which came to an overheated economy. There are other effects that were expected and we are starting to see. Among them, increasing income inequality and a soaring federal deficit. The net…