Worthy Christian News > U.S. Headlines > White House underestimated new debt in Trump budget by $2.3 trillion: CBO

White House underestimated new debt in Trump budget by $2.3 trillion: CBO

Friday, May 25, 2018 | Tag Cloud Tags: CBO, Congress, debt, deficit, News, tax, Trump, Washington, White House, Worthy News | Learn about our FREE SYNDICATION Service | Don’t rely on social media — get Worthy by email! | Printer Friendly

(Worthy News) – President Trump’s proposed budget would add $2.3 trillion more to deficits over the next decade than the White House estimated, the Congressional Budget Office said Thursday.

CBO, Congress’ agency for producing budget analyses, said Trump’s fiscal year 2019 budget would add $9.5 trillion to total deficits over the decade, not the $7.2 trillion the White House projected. The difference is mostly attributable to the CBO’s estimate of slower economic growth. Less growth means smaller tax collections and thus higher deficits.

Thursday’s analysis applied to the budget proposal that the White House submitted in February. [ Source: Washington Examiner (Read More…) ]

Receive daily Christian news, devotionals, and prayer alerts from Worthy News.

people are currently praying.

Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Discuss this article in our forums

Latest Worthy News

Trump Turns Up Economic Pressure on Iran as Rial Collapses and Regime Faces Deepening Crisis

Netanyahu Launches National AI Program, Vows Israel Will Become Global Power

Deadly Russia-Ukraine Strikes Escalate As Kyiv Seeks More Weapons

Sudanese Pastor, Six Others Executed After Arrest in Nuba Mountains

Jetstar, Qatar Airways Jets In Sydney Near-Miss Amid Air Traffic Control Concerns

Netanyahu Rejects Trump-Backed Gaza Plan, Says Israel Will Not Withdraw Until Hamas Fully Disarms

Europe’s Heatwaves Expose Vulnerability Of Wind-Dependent Power Systems (Worthy News Investigation)

Christian Father And Youth Killed In Pakistan Amid Rising Anti-Christian Violence

Lake Mead Falls to Historic Low as Colorado River Crisis Deepens

Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.