Wednesday, May 24, 2017

The Trump Budget Plan

The Trump administration has until now said its planned tax cuts would pay for themselves by pushing economic growth to 3 percent a year -- a claim already seen as outlandish by every serious analyst, liberal and conservative alike. The budget appears to go one better: It says this boost in growth will be sufficient not just to maintain revenue (despite the cut in rates) but will actually raise revenue by $2 trillion over 10 years compared with current policy. Perhaps somebody just made a dumb mistake, counting the revenue from faster growth twice over. With this administration, it’s wise not to rule it out.


Trump’s budget has been almost universally called dead on arrival. That may be an understatement. This plan, if you can call it that, was never capable of life. White House budgets are often set aside, yet still can guide deliberations in Congress, where tax and spending decisions actually get made. This budget serves no such purpose. It is simply an extended tweet, and a waste of everybody’s time.

  Bloomberg View
It's the Trump way: empty promises from fantasy land.

...but hey, do what you will anyway.

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