deanrd
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- May 8, 2017
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Trump’s 2019 Budget Underestimated New Debt by $2.3 Trillion, CBO Says
- The White House had estimated that the deficit would be $450 billion in 2027 and $445 billion in 2028. CBO, by contrast, sees deficits of $965 billion and $1.1 trillion for those years under the Trump budget.
- In all, CBO says Trump's budget would result in cumulative deficits of $9.5 trillion over the next decade compared to $7.2 trillion estimated by the White House.
- Under the president’s budget, federal debt held by the public would rise from about 78 percent of GDP this year to 86 percent in 2028.