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Yes, Virginia, You Can Cut Taxes And Deficits
At The Same Time — Just Ask The CBO

Investor´s Business Daily, by Staff

Original Article

Posted By:RockyTCB, 7/14/2017 6:28:42 AM

Budget: President Trump´s budget plan doesn´t come close to balancing the books, according to the Congressional Budget Office. But it does cut the deficit in half, even while reducing taxes. The CBO´s analysis of Trump´s budget says that it would, if enacted, produce a deficit of $720 billion in 2027, not the small surplus Trump claimed. That´s what made the headlines. But as if often the case, it´s what didn´t make the headlines — or get pundit tongues wagging — that matters. In this case, it´s the fact that almost the entire difference between the CBO´s and Trump´s view is the result of different

      


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Reply 1 - Posted by: Mickturn, 7/14/2017 7:27:21 AM     (No. 11318578)

CBO the Cronically-Wrong Budget Office

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Reply 2 - Posted by: Pearson365, 7/14/2017 7:42:10 AM     (No. 11318599)

"According to the CBO, Trump´s budget would cut spending by $4 trillion over the next decade..."

If GOP cannot terminate the about to fail Obamacare in a non election year, how will they cut spending by $400 billion this year and every year for 10 years? What gets cut in the budget due 10/1/17 to produce a $400 billion reduction in federal spending. Or, is the $400 billion per year the magical accounting of "the increase in spending was reduced by $400 billion"? Or, we spent a bit less of the money we don´t have, so we saved money.

Worse, 2018 and 2020 elections will have Dems clamoring for more spending and Repubs going along to get reelected. Cuts! Are you nuts? I love Washington too much to talk about budget cuts.

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Reply 3 - Posted by: rolfnader, 7/14/2017 8:29:00 AM     (No. 11318638)

Even better idea, Virgina- let´s axe the CBO. Have they EVER been close to the right answer?

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Reply 4 - Posted by: bpl40, 7/14/2017 9:10:16 AM     (No. 11318677)

Tax cuts having no impact on revenues is an old ´Rat trick. Tip O´Neill tried it on Reagan (who bluffed that he was taking the bait) and fell flat on his face. Trump should do the same.

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Reply 5 - Posted by: mickturn, 7/14/2017 11:32:58 AM     (No. 11318827)

Seems most of our govt. is dysfunctional...business smarts is non-existent, profit/loss are foreign concepts and growth is defined as growth of Govt. not the private sector, that, by the way, PAYS ALL THE TAXES via Companies/Persons etc.!

Time to not just restructure all of Govt. away from this Bureaucratic Quagmire and rebuild it to run extremely efficiently...and be measured to assure it stays that way.

Trump is trying to get the first steps in place by ridding us of all the useless/needless regulations that are not only stupid and wasteful but cost tons of money to enforce...and by the way, provide NOTHING to anyone but jobs for bureaucrats that are ´friends´ of politicians!

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