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

[riversedge]

Source: cnn



By Ryan Struyk, CNN

Updated 5:47 PM ET, Fri July 14, 2017
Here's what's in Trump's budget

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.

Trump's calculations rest on the assumption that real GDP will increase 3% year-over-year by 2020. But the CBO says not so fast. The nonpartisan agency pegs its estimate around 1.8% -- much closer to the average rate over the last two decades.

............




Trump administration estimates balanced budget in 10 years but CBO projects steady deficit
Budget deficit in billions of dollars
200020052010201520202025-$1,400-$1,200-$1,000-$800-$600-$400-$200$0$200CBO: -$720Trump: $16

Source: 2000-2015 data from Office of Management and Budget, retrieved from Federal Reserve Bank of St. Louis. 2016-2027 from Congressional Budget Office, The White House


Read more: http://www.cnn.com/2017/07/14/politics/cbo-trump-budget-math/index.html

[flibbitygiblets]

1. Must be where Jr. learned his math--can't even count how many people in a meeting on 2 tiny hands

Chip off the old blockhead.

[Cryptoad]

2. Fiscal Conservatives,,,,,,,,,????????

[TexasBushwhacker]

3. When has our growth ever been 3% for 10 years? n/t

[SergeStorms]

8. But, but...

this is TRUMP! Never before has this country had such a great President. He's the best President, the absolute best....you just won't BELIEVE what a stupendous President Trump will be! OF COURSE growth will be over 5% every year Trump is President. It'll probably be close to 25% every year, because Trump is so unbelievably great! He'll be the greatest President this country has ever had, he'll be the greatest, the most unbelievable President this country WILL EVER HAVE!

[xor]

11. Hah! I can assure you that someone has made a similar statement without the sarcasm

[DK504]

4. Color me shocked. Trump math is worse than new math.

[bluestarone]

5. well hell

thats because their using alternate math

[mdbl]

6. Trump is using the same calculator he used to count the attendance at his inauguration

[truthisfreedom]

7. Uneducated fuckwit.

Couldn't calculate his way out of a paper bag.

[Gothmog]

9. Trump is really bad at math and so this does not surprise me

Trump was a poor student who did not go to grad school. Trump is really a stupid person

[Kablooie]

10. I just read the Republicans have a massive new budget they want to pass.

Much higher than e ven what Trump wanted.

Like always, when Dems controlled the budget is managed.
With Reps it skyrockets. Always.