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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsReport: Trump transition ordered government economists to cook up rosy growth forecasts
As the White House staff tries to put together a budget for President Donald Trump, they face a fundamental problem. Trump has promised to cut taxes, increase spending on the military and infrastructure, and avoid cuts to Social Security and Medicare. The only way to do that without producing an exploding budget deficit is to assume a big increase in economic growth.
And Nick Timiraos at the Wall Street Journal reports that Trump is planning to do just that by making things up.
Deep into his story about Trump budget hijinks, Timiraos reveals that whats unusual about the administrations forecasts isnt just their relative optimism but also the process by which they were derived. Specifically, whats unusual about them is that they werent derived by any process at all. Instead of letting economists build a forecast, Trumps budget was put together with transition officials telling the CEA staff the growth targets that their budget would produce and asking them to backfill other estimates off those figures.
Trump is assuming much faster economic growth
Staff has been ordered to project that inflation-adjusted growth will average between 3 and 3.5 percent over the next decade, eventually settling at around 3.2 percent.
http://www.vox.com/2017/2/17/14651208/trump-budget-forecast
underpants
(182,834 posts)Trump himself
"That's what the President believes"
Spicer
SamKnause
(13,108 posts)Proof: Supply Side Economics (trickle down)
Decades of proof, back-up by facts verify this.
They should be laughed at and humiliated every time they mention Supply Side Economics,
trickle down, and Ronald Reagan.
This is one of many areas that the media has failed at !!!!
Fuck Trump !!!
Fuck Republicans !!!
They are EVIL !!!
Their policies and and actions prove this over and over again.
dawg
(10,624 posts)It's that they just don't care.
All that matters is lower taxes for the rich. Everything else must be twisted so as to accommodate that one key policy objective.
uponit7771
(90,347 posts)... so MiniPootin is going to have to cook them somehow