Trump's budget is based on fantasy economic growth
Will you share this article on social?
NY Times Reports: Trump’s Budget Math Grapples With Economic Reality
Trump's budget proposal is based on a belief that our economy will grow much fast than it actually will. Basically, it's projects are far beyond our economy's capacity.
This year's budget proposal makes huge cuts to programs that matter to Americans:
Aside from economic growth, Trump continuously forgets about the budget deficit, which has ballooned during his administration.
Essentially, administration officials are contending that rising levels of debt in the United States will not drive up borrowing costs, as many conservative economists have long warned, at least for the next several years. They also believe, a rarity among economists, that a sustained stretch of 3 percent growth would not push the Fed to raise interest rates. Administration officials do not directly control Fed policy, but in a companion document to the budget, the officials wrote that federal borrowing costs would stay low “as U.S. debt continues to be in high demand because it is a safe haven for savings amidst global turmoil.”
This is the #TrumpSlump.
To see more content like this, help support Future Majority here.
Your Daily Round Up for February 28thGood afternoon. Here are the latest news and updates that our team at Future Majority is tracking. Another Saturday, another
#TrumpSlump Stresses Global MarketsWall Street Journal Reports: U.S. Stocks Fall on Fresh Trade Tensions U.S. stocks fall as a result of Trump's tweet saying he Infrastructure
Your Daily Roundup for February 11thGood morning. As the COVID-19 pandemic takes a toll on life in America, our team at Future Majority is tracking the latest