After discussing the new deal to bring Amazon into New York, Brian Kilmeade shocked Stuart Varney by complaining that the federal deficit is growing too fast under Trump.
Varney responded with the claim that the 1%ers were going to pay more taxes than ever to pay the deficit down in the first quarter of 2019.
Nobody tell the Koch Brothers or Shelly Adelson!
On November 13th, Bloomberg reported that "The U.S. recorded a $100.5 billion budget deficit in October, an increase of about 60 percent from a year earlier, as spending grew twice as fast as revenue."
As usual with any Stuart Varney appearance on Fox and Friends, he promoted Trump's agenda and economy like a fan boy.
Too bad Brian killed the mood.
Kilmeade said, "We did get bad news, US budget deficit grew at a 100.5 billion dollars, up 60.2 % from 2017 in October. We've gotta get a hold of the spending, don't you agree?"
Federal deficits had fueled Varney's outrage under President Obama. of course.
Varney replied, "You're going off on a tangent here, aren't you? You're goading me on the deficit."
Kilmeade replied, "Part of the formula is the deficit."
Varney was stunned and confused that Brian went off topic and onto a subject has no answer for. So he pivoted, ignoring the massive tax cuts Trump gave to the very wealthy, and made a completely bogus claim to calm Brian's fears.
Varney gathered himself and replied, "Okay, well listen to this. You wait until the first quarter of next year like April 15. The one percenters and there's and lots of them (huh?) who live in high tax states. They won't be getting a tax refund like they used to. They may be paying more in taxes."
He continued, "You, just wait for the first quarter of next year. The inflow of the money to the Treasury is going to be much bigger than you think and that will cut, tamp down on the deficits."
"You heard it here first."
This is complete nonsense.
Varney, Trump, and his economic team have touted the tax cuts that will create jobs for the US economy by the fantasy of trickle-down economics so how are they going to pay more in taxes when the whole point was to lower their taxes.
High state taxes are for the states themselves, right?
And the fact that the wealthy in high-tax states can no longer deduct those from their federal taxes is a huge part of why Republicans in those states lost their seats in Congress.
Meanwhile, the Trump deficit continues to climb. Watch Stuart Varney blame the Democrats for that in January.