The White House’s budget goes from unrealistic to innumerate

[wvit1001]

Different parts of the administration contradict each other on economic policy



Mr Mulvaney wants immediate deep cuts across government that are unpalatable even to many Republicans. The fleshed-out version of the budget, released on May 23rd, features a new promise: to eliminate the budget deficit within ten years.

To get the budget to balance, Mr Mulvaney also assumes the economy will grow by 3%, a target that will be difficult to reach in the demographic headwinds. Fast growth fills the government’s coffers by about $2trn over a decade.

The problem is that Steve Mnuchin, the treasury secretary, has already banked that $2trn to pay for the tax cuts that are supposed to spark the 3% growth in the first place.

Another contradiction is that the budget predicts growing revenue from the estate (inheritance) tax, which it promises to abolish.


https://www.economist.com/news/united-states/21722638-different-parts-administration-contradict-each-other-economic-policy-white?fsrc=scn/tw/te/bl/ed/zerosumsthewhitehousesbudgetgoesfromunrealistictoinnumerate

[D2D]

Every single one of Obama's budgets assumed a 4% growth rated in GDP!

[wvit1001]

Obama's not president anymore d2

[wvit1001]

Trump's budget is more ambitious than Obama's, rosy but thin on rationale for the optimism. It anticipates shifting growth above 3 percent, much higher than Obama's long-term average.

Average growth has declined from its averages in the decades after World War II because fewer workers are entering the economy — largely a reflection of the aging baby boomer population that's starting to retire. Productivity gains have also been poor in recent years, limiting how much the economy can expand.

https://www.usnews.com/news/business/articles/2017-05-24/ap-fact-check-budget-chief-slams-obama-growth-forecast

[D2D]

President Trump's budget is far more realistic than anything Democrats have ever proposed or passed!

[wvit1001]

no it's not.   double counting stuff and then projecting increased revenues tax regs they are cutting isn't very realistic d2.

[D2D]

Yes it is as it assumes far more realistic growth in GDP which may well be exceeded and reduces the deficit!

Why are Democrats opposed to government living within its means?

[gwboolean]

Why does the TrEA$on/NSSA party always talk about government living within its means but are the ones who create ALL of the deficits?

[gwboolean]

Why does TrumpCare give the elite 1% $5 trillion in tax cuts?  How does this improve healthcare for Americans?

[wvit1001]

 double counting stuff and then projecting increased revenues from tax regs they are cutting out isn't very realistic d2.

explain how this kinda thing gives  you confidence in trump's budget.

[D2D]

Says the person who's president, deposed King Obama, holds the record for increasing the National Debt!

Double counting stuff is how Obama got Obamacare passed!

You have yet to prove any double counting in President Trump's budget!

[wvit1001]

The problem is that Steve Mnuchin, the treasury secretary, has already banked that $2trn to pay for the tax cuts that are supposed to spark the 3% growth in the first place.

Another contradiction is that the budget predicts growing revenue from the estate (inheritance) tax, which it promises to abolish.


https://www.economist.com/news/united-states/21722638-different-parts-administration-contradict-each-other-economic-policy-white?fsrc=scn/tw/te/bl/ed/zerosumsthewhitehousesbudgetgoesfromunrealistictoinnumerate