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Because Facts Matter Regarding Trump’s Budget

July 17, 2017

What is playing out regarding the Trump Administration’s budget truly needs some light shined upon it.

  • lot lately with its health care bill scoring, but the latest report it released examined President Trump’s budget, which proposes deep cuts to federal spending and boasts yuuuuge economic growth. Oh, and it’s called “MAGAnomics.” [Washington Post / Damian Paletta and Max Ehrenfreund]
  • One of its biggest promises is to balance the federal budget in the next decade, which is a monumental undertaking.
  • The CBO’s assessment? Yes, Trump’s budget will definitely reduce spending over the next decade, to the tune of about $3.3 trillion. No, that does not equal a balanced federal budget. [Congressional Budget Office]
  • Trump would have to cut over $2 billion more to achieve that result, according to the CBO report. [Congressional Budget Office]
  • It’s not unusual for the CBO to score a presidential budget, but there was a pretty big disparity between the White House and CBO numbers, far more than for the budgets released by President Obama. [Vox / Dylan Matthews]
  • That’s because the CBO says Trump’s budget office was relying on economic growth numbers that were way too optimistic. The White House said its budget would spur 3 percent economic growth, while the CBO estimated it would be closer to 1.8 percent. [Vox / Dylan Matthews]
  • The CBO also said Trump’s budget office was using suspect math and didn’t give out enough information about the president’s tax plan, a key component to forecast economic growth. [NYT / Alan Rappeport]

Perhaps not surprisingly, the White House’s reaction after the report was to go after the CBO itself, putting out a video questioning the office’s credibility (which contained a noticeable spelling error of the word “inaccurate.”)

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