Trump Budget Uses Nonsense Growth Estimates

I didn’t waste any time yesterday looking at the economic assumptions in the president’s budget, but it turns out they’re pretty spectacular:

For no particular reason, Trump has instructed that growth over the next ten years will be 3 percent—so that’s what his economic advisers gave him. It’s not uncommon for budget documents to fudge a little bit, perhaps assuming an optimistic 2.3 percent growth instead of the consensus 2.1 or 2.2, for example. But Trump’s budget is just straight science fiction. There’s no longer even a pretense of using consensus figures.

Just for comparison, the CBO projects an average growth rate a full percentage point lower than the Trump White House. The IMF is a shade lower over the next five years. The World Bank agrees.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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