About that #TrumpBudget...it GUTS Medicare and Social Security....but there's more...

[CousinIT]

The House proposal cuts into Medicare and Social Security — entitlement programs that the president has pledged to preserve. The House plan also makes a less-rosy economic growth assumption of 2.6 percent versus the 3 percent eyed by the Trump administration. Both, however, exceed the 1.9 percent figure used by the nonpartisan Congressional Budget Office in its most recent economic estimates.

The House blueprint won a strong endorsement from White House budget director Mick Mulvaney, who served on the House Budget Committee before joining the Trump administration.

https://www.washingtonpost.com/politics/house-gop-unveils-budget-plan-that-attaches-major-spending-cuts-to-coming-tax-reform-bill/2017/07/18/6e68b679-c63a-4dd1-a3da-e191636946ad_story.html

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Gap Between Trump, CBO Predictions on Economic Growth the Largest on Record

President Trump’s fiscal year 2018 budget is predicated on the assumption that the economy will expand at 2.9 percent per year, on average, over the 2018-2027 decade — 1.1 percentage points per year more than the Congressional Budget Office (CBO) assumes. THIS LARGE A GAP BETWEEN AN ADMINISTRATION’S GROWTH FORECAST AND CBO’S IS UNPRECEDENTED. This large a gap between an administration’s growth forecast and CBO’s is unprecedented, CBPP analysis finds (see Figure 1). Because of its rosy growth forecast, the Trump budget projects cumulative deficits over the next decade that are roughly $3 trillion less than they would be using CBO’s forecast.[1] Unrealistic growth projections not only make deficit-increasing tax cuts appear more affordable than they actually are, but could also add to pressure for cuts in programs for low- and middle-income families if the promised growth fails to materialize.

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https://www.cbpp.org/research/federal-budget/gap-between-trump-cbo-predictions-on-economic-growth-the-largest-on-record

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