Saturday
Jul152017
CBO: Trump’s Budget Cuts Deficit $3.3T Over 10 Years
Saturday, July 15, 2017 at 09:22PM CNS
The Congressional Budget Office released an analysis today that concludes that President Donald Trump’s 2018 budget proposal would cut the cumulative federal deficit by $3.3 trillion over the next ten years, but that even with that massive cut in the deficit the federal government would still run $6.8 trillion in the red during that period.
Under current law, CBO projects the federal government will run a $10.112 trillion cumulative deficit in the next ten years—averaging more than $1 trillion per year.
Under Trump’s plan, CBO projects the cumulative ten-year deficit would be $6.836 trillion.
Thus, the Trump ten-year deficit, according to CBO, would be $3.276 trillion less than the ten-year deficit under current law.
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