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Old 02-12-2018, 01:30 PM
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finnbow finnbow is online now
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Join Date: Oct 2009
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Quote:
Originally Posted by whell View Post
Now, in actuality, what you have is Trump trying to do what Reagan couldn't.
He's doing exactly what Reagan did - radically increasing the national debt. In Trump's case, the deficit will be ~$1 trillion a year over the next decade. At least Reagan did it during tough economic times (the right time for deficit spending, BTW). OTOH, Trump chose to do huge tax cuts and increased spending during strong economic times - the exact wrong time to do it.

BTW, in case you're wondering, Trump's budget proposal is going nowhere and is largely a meaningless document based upon ridiculous assumptions. You sure are easily misled by a con-man and discredited (and an internally contradictory/impossible) GOP economic policy.

Unfortunately, like last year, the budget relies on some extremely rosy economic assumptions and budget gimmicks that inflate its savings and distract from its actual policy reforms. The budget assumes real GDP growth will average around 2.9 percent over the next decade, including a short-term acceleration to as high as 3.2 percent in the next few years. This is much higher than other mainstream economic forecasts project and strains credulity, especially if interest rates and inflation also remain under control, as the budget predicts they will.

The budget also retains a number of policies from last year that are unlikely to generate the substantial savings it claims they would, such as $151 billion from reducing improper payments and $48 billion from testing return-to-work strategies for Disability Insurance beneficiaries.

Furthermore, the budget calls for an unrealistic 40 percent reduction in non-defense discretionary spending by 2028 – despite a lack of specificity as to where much of the funds will come from and despite the fact that the recent Bipartisan Budget Act of 2018 called for an increase in non-defense discretionary spending of over 10 percent.


http://www.crfb.org/blogs/overview-p...fy-2019-budget
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Last edited by finnbow; 02-12-2018 at 01:58 PM.
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