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Donald Trump made a $3.7 trillion mistake in his budget

Donald Trump made a $3.7 trillion mistake in his budget

Donald Trump made a $3.7 trillion mistake in his budget

The White House fleshed out its anti-CBO case in a video that contains some very basic errors.

The CBO analysis found that the budget would reduce deficit spending from the current baseline of 3.6 percent of GDP by about a third, with deficits over the decade ranging between 2.6 percent of GDP and 3 percent of GDP.

But far from achieving a balanced budget in the coming decade, as Trump and his economic advisers have brazenly promised, the president's budget plan would continue to foster substantial deficits for as far as the eye can see, according to the new CBO-JCT report. The CBO isn't convinced that those tax cuts will generate much additional economic growth, either.

CBO also said that the Trump budget contained too little detail to accurately predict its effects on the economy.

The deficit reduction created by Trump's budget proposal would result from lower spending over the next decade, the CBO said.

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The cumulative deficit from 2018 to 2027 under Trump's budget, if enacted, would total $6.8 trillion.

The analysis came as the administration and Republicans controlling the House are struggling to unite Republicans behind an alternative congressional budget plan that's a prerequisite for a hoped-for tax reform effort this fall.

It wasn't. FactCheck.org concluded that despite overestimating the number of people who who get subsidized insurance through ACA exchanges and underestimating the number who would gain coverage through the law's Medicaid expansion, the CBO "actually nailed the overall impact of the law on the uninsured pretty closely".

The Trump White House on Wednesday put out a video that attacked the Congressional Budget Office's accuracy in forecasting economic statistics - but the video itself misspelled the word "inaccurately".

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

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