We all know that the deficit is a major threat to our future. The new tax bill will only makes it worse. The bill reduces federal revenues and expands spending and the deficit grows even faster. Yes, the tax bill has something for everyone and will no doubt add a boost to the economy but the resulting growth will not be enough to have a positive affect on the deficit..
We can not grow out of the problem. If we do not see sweeping moves in the new congress to attack the debt head on, we will stall growth again , our credit will be downgraded, and we will be further down the path to becoming a second rate economy. Think Greece, England, France , Spain ,Ireland . We could end up looking up to them.They have made drastic moves to cut spending. We have not, yet.