U.S. annual deficits projected to the year 2027. Under Republican tax cuts and spending, the deficit will reach $2.1 trillion by 2027. Graphic: Committee for a Responsible Government / Steve RattnerU.S. debt-to-GDP ratio projected to the year 2027. By 2027, Republican tax cut and spending policies will balloon the debt-to-GDP ratio to 109%, the highest value in U.S. history. Graphic: Committee for a Responsible Government / Steve Rattner

12 February 2018 (MSNBC) – President Trump released his fiscal 2019 budget on Monday, 12 February 2018. Steve Rattner says the country’s budgetary outlook is “potentially apocalyptic”. Photo: MSNBC

Rattner: Deficits headed for $2 trillion