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CBO to Trump: Get real

Original story at Mother Jones• 4 mentions • 2 months ago

Mother Jones 2 months ago

 
Donald Trump thinks that slashing spending will reduce the federal deficit. Fair enough. It will. But would his proposed cuts reduce the deficit by $10 trillion over the next decade? CBO thinks he’s off by several trillion dollars. Here’s why: Trump believes that his cuts would supercharge the economy and get it to 3 percent annual growth. CBO, which is required to be reality-based, figures his cuts would increase growth by about 0.1 percent. That puts long-term growth at 2 percent per year. Of course, CBO isn’t taking into account the effect of Trump’s massive tax cuts for the rich.
 
 
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