Dumpers blame the budget increase wholly on the pandemic, most of the reason the budget skyrocketed, expenses up due to tax cuts revenue down.

[Background Notes for comparison: Both Trump’s and Reagan’s tax cuts were focused on reducing taxes for businesses and the wealthy. Reagan’s tax cuts lowered the top marginal income tax rate from 70% to 28%, while Trump’s tax cuts lowered the corporate tax rate from 35% to 21% and reduced individual income tax rates across the board. As a result of both, deficit spending increased.

During Reagan’s presidency, the federal budget deficit grew significantly. Despite cutting some spending, the tax cuts he implemented resulted in a reduction in government revenue, which contributed to the growing deficit. The deficit peaked at $221 billion in 1986, which was at the time the largest deficit in U.S. history.

Similarly, under Trump, the federal budget deficit also increased. The Tax Cuts and Jobs Act of 2017 reduced tax revenues, while federal spending continued to increase, leading to a significant increase in the budget deficit. The deficit increased from $585 billion in 2016, the last year of the Obama presidency, to nearly $1 trillion in 2019.