4um: The CBO thinks Trump's budget math is about $3.4T off

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Title: The CBO thinks Trump's budget math is about $3.4T off
Source: [None]
URL Source: http://www.cnn.com/2017/07/14/polit ... o-trump-budget-math/index.html
Published: Jul 15, 2017
Author: Ryan Struyk, CNN
Post Date: 2017-07-15 17:46:03 by Ada
Keywords: None
Views: 18

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Trump urges China to act on North Korea STORY HIGHLIGHTS The White House says their blueprint balances the budget by 2027 The CBO says Trump's budget math overestimated economic growth to the tune of $3.4 trillion (CNN)When the Congressional Budget Office scored President Trump's budget this week, some of the numbers came out looking different -- very different.

The White House says its blueprint balances the budget over the next decade, reining in the deficit from $603 billion this year to a $16 billion surplus in 2027. But the CBO estimates a $720 billion deficit in 2027 -- and more than double the cumulative deficit over the next 10 years. So here's the fundamental mismatch: The CBO says Trump's budget math overestimated economic growth to the tune of $3.4 trillion in tax revenue over next decade.

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