Economists say Trump's budget proposal doesn't add up
President Trump’s inaugural budget proposal claims to eliminate the nation’s deficit in 10 years, thanks largely to faster economic growth that it projects will come from the president’s sweeping tax cuts.
Never mind the overly optimistic projections on economic growth. Or that Trump’s tax overhaul has not happened yet. Even allowing for both, economists say Trump’s budget still does not add up.
The administration is counting on generating $2.1 trillion in additional revenue over 10 years from better economic growth. But Trump’s budget proposal leaves out the cost, or the revenue lost, from the massive tax cuts.
In other words, the economic gains that the administration has said it would use to pay for tax reform is apparently also being counted on to pay for deficit reduction. Some people call that double-counting.
http://www.latimes.com/politics/washington/la-na-essential-washington-updates-economists-say-trump-s-budget-proposal-1495566789-htmlstory.html
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