Did Trump's "tax overhaul" result in lower receipts to the treasury? I didn't pay attention to that, as I could see that my tax "cut" would in fact be an increase. (Trump said, "somebody's got to pay for it".) Seemed to me that the tax cuts were more like "rearranging the deck chairs on the Titanic"...
Doesn't matter. Treasury borrowing, while obscene, won't cause the financial crisis. The crisis will be caused by the extension of debt, pulling forward productivity and consumption until none can be pulled forward any longer. Then there will have to be a clearing of the system. This goes to the feet of the Fed, who encouraged a debt binge to keep the good times going for as long as possible and not allowing the system to correct.