The following article was posted on the Trumpaccountable.org website May 26, 2017:
One of the most questionable components of the Trump budget proposal is the fundamental question of the impact the budget could have on the national debt. In fact, many conservative Republicans (Donald Trump included) ran on a platform of repealing Obamacare and reducing the debt. One way that the Trump administration tries to get the budget to balance is by projecting aggressive growth. The thinking is that reducing taxes and regulation will stimulate the economy and increase productivity which will lead to greater revenue for the treasury. Aside from the fact that many, many economists dispute this supply side model, the Trump budget relies on an incredibly optimistic projected 3% economic growth through 2025. Our current growth is 1.9% and increasing growth by 1.1% is, according to most economists, an enormous challenge in a mature economy.
So, how realistic is it to achieve 3% growth? Continue reading “3%”