Three presidents promise tax cuts pay for themselves and all fail as deficits explode

Reagan promised tax cuts would pay for themselves. Blew out the deficit.
Bush promised tax cuts would pay for themselves. Blew out the deficit.
Trump promised tax cuts would pay for themselves. Blew out the deficit.

Fool me once, shame on me. Fool me four times…?

Reagan promised tax cuts would pay for themselves. Blew out the deficit.
Bush promised tax cuts would pay for themselves. Blew out the deficit.
Trump promised tax cuts would pay for themselves. Blew out the deficit.

Fool me once, shame on me. Fool me four times…? pic.twitter.com/HffM2fV7Od

— Justin Wolfers (@JustinWolfers) July 4, 2025

U.S. National Debt projected to soar to $55 Trillion by 2034 now that the Big Beautiful Bill has passed 🚨🚨🚨 pic.twitter.com/iBl5hlaGG4

— Barchart (@Barchart) July 5, 2025