Why Isn't TV News Talking About the Real Reason for American Budget Deficits & Debt?

Which are the Huge Republican Tax Cuts for Billionaires that Started with Ronald Reagan in the 1980's, Continued with George W. Bush in the 00's and got a Huge Third Boost from Trump in 2017

February 14, 2025 / NYC Neighborhoods / NYC Things To Do Events / News Analysis & Opinion / Gotham Buzz NYC. This report was first published embedded in the WTD.

Why aren't the billionaire controlled TV networks talking about WHY Trump is cutting so many people and other resources from the federal government? Why are they aiding and abetting the unsubstantiated, and hence to date false, narratives that Trump and Musk are cutting fat, bureaucracy and corruption.

Why are they failing to inform the nation that a lot of the federal government programs that are being cut are dedicated to helping people stay healthy and safe, elevate themselves, and achieve the American Dream? The priority targeted departments that Trump / Musk are trying to cut enable Americans to stay healthy, get a good education and avoid being ripped off by nefarious financial institutions. These categories appear to be the priority targeted cuts announced so far.

To date Trump has signed and announced nearly 100 Executive Orders - some of which appear to be illegal - and are being contested in the courts. Among the Executive Orders are some, that are cutting programs designed to help people stay healthy, get a good education and avoid abuse by financial firms. Here are just a few of them.

Trump announced that the U.S. is exiting from the World Health Organization [WHO - helps manage global disease breakouts], cuttingthe budgets of the National Institute of Health [NIH - health / scientific research] and cutting the Center for Disease Control [CDC], without doing some sort of in-depth analysis first. Trump announced he's cutting most of the Department of Education. And he's announced he's going to try to cut the entire Consumer Financial Protection Bureau [CFPB].

As we saw in this last election, TV News fails to do an effective job of informing / educating Americans. In the election they failed to inform Americans about the state of the economy [good] and currently they are failing to inform Americans as to why these federal agencies and departments perform important functions that help keep America the promised land, by protecting our collective health, investing in our nation's education / future and protecting consumers from financial abuse.

TV Network News doesn't say a single word about why Trump / Musk are REALLY cutting so many federal government services so quickly.

• CLICK here for the answer to the question above as well as for the rest of our report on Why isn't TV News Talking About the Real Reason for American Budget Deficits & Debt?

The Answer - so the federal government can fund tax cuts for billionaires like Donald Trump, Elon Musk and the owners of the TV Networks, and continue enabling them to pay taxes at lower rates than working class Americans, and continue receiving TRILLIONS in reduced taxes for the remainder of Trump's second term.

This Time Around Trump Can't Borrow his Way into Another Tax Cut & Strong Economy

During the first Trump presidency, Trump's Finance Ministers funded the billionaire / trillionaire tax give away by taking on $8 TRILLION in NEW public debt, that future generations of Americans will have to pay.

This time around they can't do that, because the Trump tax cut, which Biden let ride, has so wrecked America's finances, that they cannot give away more money to billionaires by borrowing even more.

America had less than $20 trillion in debt when Trump first came to office [see box in first chart showing debt at the beginning of Trump's first term], which ballooned up to $28 trillion in debt by the end of Trump's first term [see box in second charts below or at right]. It's worth reminding people that as a businessman, Trump has been involved in multiple bankruptcies and multiple sales of distressed assets / companies. Contrary to what he says, he's not the great businessman he makes himself out to be, but he does appear to be a black belt in swindling.

Biden added about the same amount of debt as Trump did [$8 trillion], because he let the Trump tax cut ride, but also because he invested a couple of trillion in clean energy and modernizing the nation's infrastructure via the 'Build Back Better' and 'Infrastructure and Investment Jobs Act' and make the interest payments on the debt Trump racked up.

Thus, as of February 2025, America owes $36 trillion dollars, and the size of our economy is only about $30 trillion. So we owe a lot more than we make. But not to worry because that's not likely to deter these two billionaires working in the White House getting what they want - which is even more money that they don't need.

Where's the All the Fraud & Corruption Amplified by the Billionaire Controlled TV Network News?

I'm all for identifying real fraud and real waste in the federal government budget. But I want it done thoughtfully, carefully, intelligently - and not led by a couple of money-grubbing billionaires who really don't seem to give a crap as to what they cut, just so long as they get their tax cut payout.

To date nothing specific has been identified, just noise-making, distracting headlines, amplified by the ratings-chasing, sensationalist TV news and other media. I hypothesize that the real corruption and fraud at the federal level may be found in the one place that Trump and Musk will never look ... and that's into the businesses and affairs of the two men occupying the Oval Office, who have too many conflicts of interest, for me to even begin listing them at present.

Important Question the Billionaire Controlled TV News People aren't Asking, but that Voters Should be Asking Themselves. So the question voters making under $400,000 per year need to ask themselves, is why Trump and Musk don't just let the $4 TRILLION IN TAX CUTS for the richest people on the planet expire at the end of this year, instead of cutting the the U.S. federal government budget and services to the bone?

The sad news is that, even if the tax cuts are allowed to expire, the billionaire class would still pay taxes at lower rates than the rest of us.

Have a nice Presidents Day weekend.