The Trump tax cuts are already, just as they are going into effect, causing a massive shortage of government funds, and threatening the stability of the Social Safety Net of Social Security, Medicare, and Medicaid, and as well as educational, environmental, consumer, and labor laws.
This is precisely what the Republican Party of Speaker of the House Paul Ryan, Senate Majority Leader Mitch McConnell, and the Trump White House wants, to destroy the entire social and economic reforms and regulatory laws of the New Deal of Franklin D. Roosevelt, the Great Society of the Lyndon B. Johnson, and the reforms of Barack Obama, along with lesser reforms of Harry Truman, Dwight D. Eisenhower, John F. Kennedy, Richard Nixon, Jimmy Carter, George H. W. Bush, Bill Clinton and George W. Bush.
The Republican Party is now an extremist right wing party controlled by the Freedom Caucus and evangelical Christians, who will not be satisfied until they take America back to the 1920s and the Gilded Age.
And this past week, the beginning of the end of what is now 88 months of economic expansion and job growth is evident, as today, the stock market collapsed with a 670 point drop, and a 1,000 point drop over this entire week. This is the biggest drop in two years, about 2.5 percent in the past week. It is also the biggest drop since the financial crisis of late 2008, which led to the Great Recession.
This was predictable, as no market or economic growth can continue to expand forever and already, the seven years and four months of expansion, since the last months of 2010, is an all time record.
We will go through very rough times from now on, and yet the wealthy top one or two percent will continue to gain massive tax cuts, while the rest of America suffers.
We are on the road to potential social uprising, as the American people realize that a President who lost the popular vote, and has engaged in illegal acts, works to undermine the investigation of Russian collusion, money laundering, abuse of power, violating the emoluments clause, and obstruction of justice, at the expense of the American people, but makes sure his class of wealthy people continues to benefit.
The Trump public opinion rating in the mid 30s is likely to collapse into the 20s at this rate, but will the Republican Party try to rectify itself in Congress, or will they continue to collaborate in treason and corruption, and destroy their historical legacy long term?
We shall see in the months leading up to a likely massacre in the midterm elections this November.