Analysis says Trump budget won’t curb deficits as promised

By ANDREW TAYLOR
Yesterday

WASHINGTON (AP) — The nonpartisan Congressional Budget Office said Thursday that President Donald Trump’s budget plan won’t curb the spiraling deficit as it claims.

Trump’s budget, released in February and mostly ignored since, promises spending cuts and economic growth that would cut the deficit to $363 billion in 10 years. CBO said it would instead hit almost $1.1 trillion if all of the president’s policies were followed.

All told, CBO said Trump’s budget would produce deficits of $9.5 trillion over the coming decade instead of the $7.2 trillion promised by the White House.

CBO took a more cautious approach to estimating tax revenues and economic growth. It rejected Trump administration claims that last year’s $2 trillion-plus tax cut measure will pay for itself by boosting the economy.

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