White House underestimated new debt in Trump budget by $2.3 trillion: CBO


(Worthy News) – President Trump’s proposed budget would add $2.3 trillion more to deficits over the next decade than the White House estimated, the Congressional Budget Office said Thursday.

CBO, Congress’ agency for producing budget analyses, said Trump’s fiscal year 2019 budget would add $9.5 trillion to total deficits over the decade, not the $7.2 trillion the White House projected. The difference is mostly attributable to the CBO’s estimate of slower economic growth. Less growth means smaller tax collections and thus higher deficits.

Thursday’s analysis applied to the budget proposal that the White House submitted in February. [ Source: Washington Examiner (Read More…) ]

We're being CENSORED ... HELP get the WORD OUT! SHARE!!!

Related News Items:

Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News