Michael Steele on Trump Tax Plan: ‘It’s Just Ludicrous’

EXCERPT:

STEELE: "The reality of 1986 — they're talking about the biggest tax cut since 1986. Great, but remember what happened? We continued to spend above the level of revenue. The idea that you make these tax cuts and then the next day you’re going to have growth is just ludicrous. It doesn’t work like that. The economy doesn’t turn on a dime like that. It’s going to take time for those tax cuts to settle in to the business and the personal income realities of people and then have that translate while at the same time you’re continuing to increase spending. Yes, Michael, it’s going to have a huge impact on the debt and the deficit and Republicans are going to be held accountable for that, the same fiscal conservatives that we helped elect in 2010 to stop the conflagration of spending by the federal government are now a party to it and it's an amazing turn of events.”