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[Oersted]

The president’s budget office had said its proposal would result in a $16 billion surplus that year, a key goal of conservatives in the Republican Party.

Still, the Trump budget would reduce the deficit well below current projections, the CBO said. It estimated that the policies in his proposal would reduce the deficit by $3.4 trillion from 2018 to 2027. That would result in a $6.7 trillion deficit over the decade instead of $10.1 trillion. Under current laws, the CBO said, the deficit for 2027 would be $1.5 trillion.

The CBO estimated that wages and salaries would be about $6.9 trillion, or 6 percent, lower than the administration projected over 10 years. Economic profits would be about $3.2 trillion, or 15 percent, lower than the administration estimated.

My favourite part

“Each year, CBO typically issues a quantitative analysis of the macroeconomic effects of the president’s policy proposals and the resulting feedback effects on the budget. However, CBO cannot provide a comprehensive analysis of the effects of the proposed policies in the president’s budget for fiscal year 2018 because many of them did not contain the details necessary to assess those effects,” the CBO report said.

More here

https://www.bloomberg.com/news/arti...-budget-doesn-t-balance-like-white-house-said

Lock if old

 

[Shauni]

Sounds surprising good until the end, which makes the whole thing borderline pointless.

 

[I H8 Memes]

I believe this projection is based on an unrealistic growth prediction. Some mark to market bullshit with our economy.

 

[jay]

David Wong must be furious about this because he cares deeply about the deficit and doesn't use it as air cover for backing policies he is ideologically aligned to.