CBO says Trump budget would reduce deficit but not balance budget
00:14, Jul 14, 2017
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U.S. President Donald Trump's proposed spending plan over the next decade would not come close to balancing the national government's budget as it had promised, an independent analysis said Thursday. The White House responded by criticizing the accuracy of the CBO, saying that it "innaccurately [sic] estimated" that 25 million Americans would be covered by Obamacare.
The deficit could fall to between 2.6% and 3.3% of gross domestic product over the next 10 years, the CBO said.
The White House released its analysis of the Senate health care bill after disputing the score released by the Congressional Budget Office. The nonpartisan scorekeeper estimated that deficits in each of the coming 10 years will exceed the $585 billion in red ink posted last year. "Almost all of that difference arises because the administration projects higher revenue collections - stemming mainly from a projection of faster economic growth".
The cumulative deficit from 2018 to 2027 under Trump's budget, if enacted, would total $6.8 trillion.
The CBO said did not take into account all of Trump's proposals that may affect the economy because "the details on numerous proposed policies are not available at this time".
The CBO said it also didn't have enough information about numerous president's economic policy proposals to calculate their effects on the budget. Largely for the same reasons we explained in May: The tax cuts proposed by the administration would reduce revenue by more than $3 trillion, and the increased borrowing would result in higher interest payments.
The White House blueprint would cut $2 trillion in mandatory spending, including $1.9 trillion on health care.
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".
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The fire is still very much active said Public Information Officer Chris Elms with CAL FIRE San Luis Obispo. Forty-five fires are burning across the Western part of the US, according to the US Forest Service.
Tweet: While I greatly appreciate the efforts of President Xi & China to help with North Korea , it has not worked out. The United States and China have clashed recently over Washington's arms sale to Taiwan, among other issues.
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The history of the Nathan's Famous Hot Dog Eating Contest
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