WASHINGTON (AP) — A new government analysis of President Donald Trump’s budget plan says it wouldn’t come close to balancing the federal ledger like the White House has promised.
The Congressional Budget Office report says that Trump’s budget, if followed to the letter, would result in a $720 billion deficit at the end of 10 years instead of the slight surplus promised.
CBO said Trump’s budget would reduce the deficit by a total of $3.3 trillion over 10 years instead of the $5.6 trillion deficit cut promised by the White House.
Trump’s May budget submission proposed jarring, politically unrealistic cuts to the social safety net for the poor and a swath of other domestic programs. Many of its recommendations were deemed dead on arrival and are being ignored by Republicans controlling Congress.
Huh…a guy who declared bankruptcy 4 times, including running casinos which are about as close to printing money as one can get, go the numbers seriously, seriously wrong when he made a 10 year budget plan.
Color me surprised /snark
At one point this turkey casually claimed that over an 8 year term he would not just balance the budget, but eliminate the debt. No details were offered, but he assured that he was a business genius and could do it.
A budget is essentially a plan. What does anyone expect from a president who is incapable of doing anything but act and react on impulse?
There’s the $25M to gold plate all the toilets in the West Wing. Then the $40M to add the onion-topped towers that will rise above the new Putin Suite.
He once proposed, before this campaign, that we impose a one time tax increase across the board on everyone to total the $13.6 trillion dollars of the national debt, and use it all to immediately pay off the entire debt.
Of course, during the campaign he floated the idea of just refusing to pay the national debt. (big surprise from Mr. Default), or at the least forcing everyone who holds Treasuries to “take a hair cut”. (The biggest holders of Treasuries are the American public)
Sadly, business genius doesn’t mean what it used to, to some people