Trump’s Budget Math Grapples With Economic Reality

New York Times logoThe budget predicts the economy will grow significantly faster than most economists anticipate.

WASHINGTON — President Trump’s budget proposals have been defined by a belief that the economy will grow significantly faster than most economists anticipate. The latest version, released on Monday, is a brief departure: It concedes, for the first time, that the administration’s past projections were too optimistic.

Then it goes right back to forecasting 3 percent growth, for the better part of a decade.

Mr. Trump’s $4.8 trillion budget proposal is slightly larger than last year’s $4.75 trillion request and calls for increased spending on the military, the border wall, infrastructure and other priorities, including extending the president’s 2017 tax cuts. It also includes trillions of dollars of cuts to safety-net programs like Medicaid and discretionary spending programs outside of the military, like education and the environment. Continue reading.