The US deficit is growing rapidly, because of the tax reform ... but also and especially because of the aging of the population. 

In December 2017, the United States adopted the Tax Cuts and Jobs Act (TCJA), which lowered taxes for corporations (in particular, a 35-21% cut in the corporate tax rate). corporate taxation and capital expenditure deductions) and for households (lower income tax). With regard to the federal state budget, the consequences of the TCJA reform will focus mainly on receipts: even taking into account the positive effects on activity, the CBO (Congressional Budget Office, a non-partisan agency linked to the Congress) assumes that the TCJA will significantly lower tax receipts. According to this institution, the legislative changes adopted in 2017 (of which tax reform is by far the main element) will reduce tax revenues by $1,700 bn over the period 2018-2027. These legislative changes would increase the deficit by $242 bn in 2018, $292 bn in 2019, and $233 bn in 2020. 

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