Independent Analysis: Trump Budget Plan Would Not Cut Deficit

CREDIT screengrab

This week the White House even released a video on its official Twitter account that assailed the credibility of the C.B.O.

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 CBO said Trump's decade-long spending plan would trim the current almost $20 trillion national debt by $3.3 trillion, not the $5.6 trillion the White House projected.

The $4.1 trillion budget for 2018 that the White House proposed recommended a large increase in spending on the military and on border security.

In fiscal 2016, the deficit was $585 billion, while the CBO expects it to grow to $693 billion for the 2017 fiscal year.


The deficit reduction created by Trump's budget proposal would result from lower spending over the next decade, the CBO said. But it doesn't factor in Trump's tax cuts, since not enough information has been provided.

The CBO also said the White House proposal for tax overhaul "lacked the specificity necessary to evaluate any (economic) effects from such a change".

The analysis came as the administration and Republicans controlling the House are struggling to unite Republicans behind an alternative congressional budget plan that's a prerequisite for a hoped-for tax reform effort this fall. The White House had claimed it would reach a $16 billion budget surplus by that year.

Republican Senator Susan Collins said: "I'm very concerned about the cost of insurance for older people with serious chronic illnesses and the impact of the Medicaid cuts on our state governments; the most vulnerable people in our society".

The White House was forced to delete and reissue a video that attacked the inaccuracy of the Congressional Budget Office after it misspelled "inaccurately". Instead, it estimates that Trump's budget would reduce deficits by a third over the next decade relative to where they would be otherwise.

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