Independent Analysis: Trump Budget Plan Would Not Cut Deficit

CREDIT screengrab

The White House was forced to delete and reissue a video that attacked the inaccuracy of the Congressional Budget Office after it misspelled "inaccurately".

A new analysis from the nonpartisan Congressional Budget Office didn't exactly come to that conclusion.

Over a decade, the C.B.O. said, Mr. Trump's budget proposals would reduce the projected $10.1 trillion deficit by $3.3 trillion, not the $5.6 trillion that the White House has projected.

"The president's proposals would affect the economy in a variety of ways; however, because the details on numerous proposed policies are not available at this time, CBO can not provide an analysis of all their macroeconomic effects or of the budgetary feedback that would result from those effects", the report said.

CBO says that Trump relied on far too optimistic predictions of economic growth and that Trump's rosy projections are the chief reason his budget doesn't balance as promised.

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While the CBO gives the administration some credit for the "dynamic" effect of proposed tax cuts and savings on long term economic growth, it has largely treated many of Trump's most ambitious proposals - including more than $7 trillion of proposed tax cuts for businesses and individuals -as works in progress that can't be fully accounted for in projecting long term deficits.

The video echoes a talking point White House officials have used for months. But it doesn't factor in Trump's tax cuts, since not enough information has been provided. Its projections included a $2 trillion math error, claiming the amount would be spent twice on balancing the budget and tax cuts.

The stakes on completing a budget are high for the Trump administration.

Mulvaney said that discussion continues among House lawmakers about fashioning a package of cuts from so-called mandatory programs that can win support from both conservative and centrist Republicans. But in a pre-emptive strike on Wednesday, the White House wrote on Twitter: "Faulty Numbers = Faulty Results".

"We are thrilled that C.B.O. confirms that the president's proposed budget resulted in the largest deficit reduction they have ever scored", said Meghan Burris, a spokeswoman for the White House budget office.

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