To The Editor:

What has happened to the fiscal conservatives that used to care about the deficit? When Barack Obama became president he inherited an economy in a free fall.

He spent $78 billion to bail out U.S. automakers to save 1.2 million jobs and was labeled a socialist. In 2009, the deficit increased to $1.4 trillion and there was outrage and screaming about fiscal conservatism. By the time he left office, the deficit had shrunk to $438 billion.

In 2016 Donald Trump won the Electoral College vote and became president. He promised to balance the budget in four years. Instead we got the biggest tax cut in history benefiting the wealthy and corporations.

We were told that the tax cut would allow corporations to make more money and that would increase jobs and fill the tax coffers. Instead, using loopholes, corporations cut their tax rate to an average of 11%, and instead of creating jobs, more than half of the tax relief was used to buy back corporate stocks.

By the end of 2019, the deficit had ballooned to $984 billion and growing. Now we are told our Medicare and Social Security are on the chopping block to pay for this tax giveaway for the rich.

As for jobs growth, Obama cut unemployment by 53% (he started with higher unemployment) and Trump cut unemployment by 26%. During Obama’s last 31 months versus Trump’s first 31 months, Obama created 1.5 million more jobs. Let’s hear from those fiscal hawks that used to squawk so loudly.

Where are you now?

Sincerely,

Deborah A. Smith

Palmerton