During the campaigning days of President Donald Trump, one major promise he made was that he would bring America’s deficit down and lead us to an economy that would always be “winning.” Most would imagine that means no deficit and actually a surplus. However, another Trump promise will go unmet.
The Seattle Times reported the Congressional Budget Office had read the verdict on Trump’s budget proposal, and it definitely wasn’t what he promised millions of his supporters.
‘Thursday’s Congressional Budget Office report says that Trump’s budget, if followed to the letter, would result in a $720 billion deficit at the end of 10 years instead of the slight surplus promised.’
Instead of reducing the deficit by $5.6 trillion, it would only reduce it by $3.3 trillion over the next ten years. So, what’s resulted in such a major difference? The CBO said:
‘Nearly all of that (deficit) difference arises because the administration projects higher revenue projections – stemming mainly from a projection of faster economic growth.’
So, basically Trump figured he would come into office and the economy would magically fix itself because he’s that awesome. It would reduce the deficit, then Americans would hail him as the greatest commander-in-chief in the history of the United States, and the suckers fell for it.
Indeed, Rep. John Yarmuth (D-KY) confirmed the fact that Trump’s budget was built upon fairy dust and moonbeams.
‘The CBO report shows that the president built his budget on fantasy projections.’
Actually, Trump’s budget proposal was built upon the broken backs of the poor and needy. The Seattle Times noted:
‘Trump’s May budget submission proposed jarring, politically unrealistic cuts to the social safety net for the poor and a swath of other domestic programs. Many of its recommendations were deemed dead on arrival and are being ignored by Republicans controlling Congress.’
Remember the whole Meals on Wheels thing? That’s what Trump was banking on — starving old people and children, and reducing really important funds for cancer research.
Despite Republicans controlling both the Senate and the House, they have had difficulty unifying on the budget. Without a unified Republican front, any budget proposal would most likely be dead since they can’t rely on any Democrats. The budget has to be a priority for the Trump administration, considering the large promises they made, which included tax reform with major tax cuts.
Budget Director Mick Mulvaney explained:
‘The tax reform concepts rely almost entirely on the budget resolution passing.’
He then tried to blame the trouble on impatience and that they could not get everything done within the “next couple of weeks.”
Of course, the White House has done their best to find a silver lining to throw a shroud over Americans to convince them it’s still a really great proposal. White House budget office spokesperson Meghan Burris was convinced the proposal would “jumpstart the economy” and also added:
‘We are thrilled that CBO confirms that the president’s proposed budget resulted in the largest deficit reduction they have ever scored. CBO agrees that this is the largest deficit reduction package in American history.’
That’s not the point, though. The point is Trump suckered his supporters into believing he’d be the non-traditional president who would deliver on all his promises 100 percent. For any politician, that’s unimaginable. However, Trump promised it, and honestly, with a Republican controlled Congress it should almost be doable. It’s not, however, and Trump will — again — disappoint the supporters who will take the time to read the finer details.
Featured image by Pierre Suu/Getty Images.