Author Topic: Trump’s 2019 Budget Underestimated New Debt by $2.3 Trillion, CBO Says  (Read 873 times)

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Offline Suppressed

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Trump’s 2019 Budget Underestimated New Debt by $2.3 Trillion, CBO Says
Yuval Rosenberg   May 24, 2018
http://www.thefiscaltimes.com/2018/05/24/Trump-s-2019-Budget-Underestimated-New-Debt-23-Trillion-CBO-Says

Remember President Trump’s 2019 budget — that big document released in February and then immediately dismissed or ignored? Well, a new analysis released Thursday by the nonpartisan Congressional Budget Office finds that the president’s proposal won’t rein in rising deficits like the White House claims.

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Offline jmyrlefuller

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The CBO has become nakedly political in the past two years. How else can anyone explain their claim last year that cutting spending alone, with no other adjustments, would somehow increase the deficit?

They have totally destroyed their credibility.
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The CBO has become nakedly political in the past two years. How else can anyone explain their claim last year that cutting spending alone, with no other adjustments, would somehow increase the deficit?

They have totally destroyed their credibility.

Where was that claim made?

Offline catfish1957

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Can't be.  Trump is a conservative. :silly:
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Offline endicom

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CBO Budget Projections: After Two Years No Better Than Throwing Darts

Forbes
Seth Chandler
July 18, 2017

The latest Senate Republican healthcare reform plan, like its House predecessor, appears now to have failed. It did so for many reasons, some good and some not so good. Among the not-so-good reasons the proposal failed were the projections of the Congressional Budget Office. As I show here, CBO projections more than two years into the future in the domain it perhaps studies most -- federal deficits -- are little better than random guesses.

More... https://www.forbes.com/sites/theapothecary/2017/07/18/cbo-budget-projections-after-two-years-no-better-than-throwing-darts/#58bc935267a2

Offline INVAR

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The CBO has become nakedly political in the past two years. How else can anyone explain their claim last year that cutting spending alone, with no other adjustments, would somehow increase the deficit?

They have totally destroyed their credibility.

Ahem.... the CBO has been nakedly blue dress political since at least Slick's second term, so nothing new there.  ANYTHING having to do with government is political - and they have destroyed their credibility completely AFAIC during the last 10 years.

So, the same applies to Trump in terms of how things are spun to create the best political narratives that can be used to sway opinion and push agendas and popularity - even if the actual facts are bullshit.

That said, that an additional 2.3 trillion in debt is suddenly acknowledged is not only more than likely - but from my gleaning of the news - exactly the fact.  Trump signed a total of nearly 3 Trillion in debt for the next two years alone with two spending authorizations in both February and March: 1.4 Trillion in new military spending for the Pentagon signed on February 9th - and the Omnibus and infamous 1.3 Trillion Government Spending bill signed a month later.  Everyone is still stuck on reporting 1.3 or 1.5 Trillion - but it was indeed nearly 3 Trillion for the next two years.  That kind of debt is not sustainable, and the consequences are going to crush us and our posterity.
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Offline Fantom

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Ahem.... the CBO has been nakedly blue dress political since at least Slick's second term, so nothing new there.  ANYTHING having to do with government is political - and they have destroyed their credibility completely AFAIC during the last 10 years.

So, the same applies to Trump in terms of how things are spun to create the best political narratives that can be used to sway opinion and push agendas and popularity - even if the actual facts are bullshit.

That said, that an additional 2.3 trillion in debt is suddenly acknowledged is not only more than likely - but from my gleaning of the news - exactly the fact.  Trump signed a total of nearly 3 Trillion in debt for the next two years alone with two spending authorizations in both February and March: 1.4 Trillion in new military spending for the Pentagon signed on February 9th - and the Omnibus and infamous 1.3 Trillion Government Spending bill signed a month later.  Everyone is still stuck on reporting 1.3 or 1.5 Trillion - but it was indeed nearly 3 Trillion for the next two years.  That kind of debt is not sustainable, and the consequences are going to crush us and our posterity.

So you are saying the CBO is obama/deep State right?   Is that how I can read your post?

That CBO is Marxist garbage?
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Online Bigun

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The CBO is required by law to use only static analysis in preparing their estimates.  That means that they are not allowed to take into account the positive effects of things like the behavioral changes that will occur because of the recent tax cuts for example.

In other words, their estimates are pretty much useless as far as I'm concerned.
« Last Edit: June 10, 2018, 05:44:05 am by Bigun »
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Online corbe

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    These are the same people that tell us Unemployment is -1.7.
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Offline INVAR

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So you are saying the CBO is obama/deep State right?   Is that how I can read your post?

That CBO is Marxist garbage?

Has been since Clinton.
Fart for freedom, fart for liberty and fart proudly.  - Benjamin Franklin

...Obsta principiis—Nip the shoots of arbitrary power in the bud, is the only maxim which can ever preserve the liberties of any people. When the people give way, their deceivers, betrayers and destroyers press upon them so fast that there is no resisting afterwards. The nature of the encroachment upon [the] American constitution is such, as to grow every day more and more encroaching. Like a cancer, it eats faster and faster every hour." - John Adams, February 6, 1775