CBO: Trump budget would not balance

PM-1499884469

PM-1499884469

On Wednesday afternoon, the Trump administration trashed the nonpartisan Congressional Budget Office in an attempt to undercut its dire analysis of Trumpcare.

In some cases, the CBO and the Joint Committee on Taxation relied on administration cost-saving estimates for policy proposals that it deemed "achievable targets".

Trump's budget predicts that the USA economy will soon ramp up to annual growth in gross domestic product of 3 percent; CBO's long-term projections predict annual GDP growth averaging 1.9 percent.

Over the next decade, the CBO projects nominal GDP to be 6 percent lower than the White House does, while it expects revenues to be $3.6 trillion, or 8 percent, less than what the White House said.

Trump's budget plan, "A New Foundation for American Greatness", unveiled in late May, shows the annual deficit gradually vanishing from an estimated $440 billion in fiscal 2018 to $319 billion in 2023 to a $16 billion surplus by 2027.

The CBO also said the White House proposal for tax overhaul "lacked the specificity necessary to evaluate any (economic) effects from such a change".

Mother detained after man, four children found dead inside Georgia home
Pihera added that reports of the Georgia stabbings should not cause anyone to think that a "dangerous person" is now at large. Pihera said the caller was speaking Spanish, which initially made it hard for 911 operators to communicate with her.

"CBO inaccurately estimates health coverage", reads one part of the video, which is titled, "The Congressional Budget Office's math does not add up".

Deficit reductions would be a result of drastic spending cuts proposed under the Trump plan.

The video echoes a talking point White House officials have used for months. "The people I worked for in the White House would never have done this".

The CBO report contradicts a claim made by the White House that its budget would balance the budget within a decade. Instead, it estimates that Trump's budget would reduce deficits by a third over the next decade relative to where they would be otherwise.

"We are thrilled that C.B.O. confirms that the president's proposed budget resulted in the largest deficit reduction they have ever scored", said Meghan Burris, a spokeswoman for the White House budget office.

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