CBO Confirms President Trump is the ‘King of Debt’
However, the nonpartisan Congressional Budget Office recently found that the federal deficit would actually be $2.3 trillion higher than what the 2019 Trump Budget projected.
President Trump’s proposed budget for 2019 would result in significantly higher deficits over the next decade than the White House estimated, the Congressional Budget Office said Thursday. The difference comes partly from CBO’s belief that the tax bill signed into law last year will not create as much revenue as the White House has promised.
In selling the tax law last year, the White House and Republicans said it would lead to broad gains in salaries and wages throughout the economy. But CBO estimated the White House’s forecasts were overly rosy.
Remember President Trump’s 2019 budget — that big document released in February and then immediately dismissed or ignored? Well, a new analysis released Thursday by the nonpartisan Congressional Budget Office finds that the president’s proposal won’t rein in rising deficits like the White House claims.
In all, CBO says Trump's budget would result in cumulative deficits of $9.5 trillion over the next decade compared to $7.2 trillion estimated by the White House.
Just another day, another misleading claim from the Trump White House…
In addition to President Trump’s 2019 budget, Republicans passed a tax scam that explodes the deficit by an additional $2 trillion – which robs from our children’s futures to enrich corporations and the wealthiest.
As the President and Republicans in Congress hollow the foundation of our national strength – showcasing the Administration’s utter disregard for the future of seniors, children and families – Democrats offer hard-working American families A Better Deal: Better Jobs, Better Wages, Better Future.