tiptrot.com
tiptrot.com December 10, 2017


CBO says Trump budget would reduce deficit but not balance budget

14 July 2017, 12:16 | Deanna Wagner

CBO says Trump budget would reduce deficit but not balance budget

US President Donald Trump waves as he arrives for a meeting with French President Emmanuel Macron at the Elysee Palace in Paris Thursday

Congress is charged with crafting the government budget and largely ignored Trump's recommendations when it passed a continuing resolution to temporarily fund the government earlier this year.

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".

The cumulative federal deficit would be one-third smaller than CBO baseline projections that show deficits rising to 5 percent of GDP by 2027, the CBO said.

But the CBO estimates the budget would not balance, refuting the White House's claim that it would. The nonpartisan scorekeeper estimated that deficits in each of the coming 10 years will exceed the $585 billion in red ink posted last year.

Not only is the White House's criticism of the CBO based on a misleading critique of its Obamacare projection, but the video completely overlooks that a White House analysis of the House version of Trumpcare forecast even more drastic coverage losses than the CBO.


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.

"The reduction in deficits and debt under the president's budget would be achieved by decreasing both mandatory and discretionary spending significantly compared with projections under current law", the CBO said.

CBO also said that the Trump budget contained too little detail to accurately predict its effects on the economy. "The Congressional Budget Office's numbers don't add up", it claimed. The White House didn't want you to see it. The changes to Medicaid have been a point of political contention among Republican lawmakers.

"We are thrilled that CBO confirms that the president's proposed budget resulted in the largest deficit reduction they have ever scored".

The Congressional Budget Office estimates President Donald Trump's budget proposal would shrink deficits by almost a third over the coming decade, but not almost as much as the White House projects.



Other News

Trending Now

Elite crews taking over Peak 2 Fire near Breckenridge; hundreds remain evacuated
Police allowed people in the evacuated areas to go home and get a few things but they can't sleep there. Crews on foot, however, are moving to safer positions away from the fire's potential spread.

Gangnam Style's YouTube Record Surpassed
Korean pop sensation, Psy , can no longer claim to have YouTube's most-watched video with viral sensation Gangnam Style . Psy's song had been on top for the past five years, taking over from Justin Bieber's " Baby " in November 2012.

Geraint Thomas out of Tour de France with suspected broken collarbone
He won stage one of this year's race and wore the leader's yellow jersey until Froome took it after stage five. Overall, Froome leads Aru by 18 seconds and Bardet by 51.

James Washington a unanimous All-Big 12 Preseason Team selection
The Big 12 has its eyes on four Oklahoma State football players before the season begins on August 31 against Tulsa. Oklahoma was picked to finish first for the second straight year and fifth time in the last seven years.

Upcoming WhatsApp Night Mode Feature to Improve Pictures Snapped in Low Light
Tapping the mentioned button, you will see that you can change the font of the text to Strikethrough, Italic, Bold or Monospace. WhatsApp has made it easy for you to apply new text font styles and also search for emojis in the latest version of its app.

Princess Diana Gravesite Rededicated On Her Birthday
Her brother, Charles, will renovate the area and plant forget-me-nots and rhododendrons because they were her favorite flowers. Prince Charles , Diana's ex-husband, was absent from the event and in Canada with his wife, Camilla, Duchess of Cornwall.

Trump Will Meet With British PM About Charlie Gard
He suffers from mitochondrial depletion syndrome, a rare genetic illness which leads to progressive brain and muscle damage. In the post, the president claimed the United States would be "delighted" to help Charlie in any way possible.

Multi-state lottery ticket sales to stop if state budget isn't passed
If you happen to win big on the lottery in IL in the near future, the good news is that you will have won big on the lottery. The Lottery will issue refunds to players for the remaining length of their subscriptions.

Maryland AG: 'Election Integrity' Commission's Request Is 'Repugnant'
The request came in a letter from commission vice-chair and Kansas Secretary of State Kris Kobach . The state does not collect any data about a voter's political preference or gender, he said.

Suspect In Bixby Explosion To Appear In Federal Court
The door of the recruiting center was blown off and landed in a parking space in front of the storefront and soot-covered windows. Agents are investigating the possibility that the explosion was an incident of domestic terrorism, according to the Tulsa World .