Trump’s 2019 Budget Underestimated New Debt by $2.3 Trillion, CBO Says

[Hellsbane]

@Hellsbane

So, you believe the CBO when they say 1.8% GDP growth as far as the eye can see? Keep in mind, current figures show they are wrong. Keep in mind being wrong = hundreds of billions of dollars. Being wrong by 1% = around two trillion dollars. They are way off on this estimate and Trump is closer to the reality than the CBO.

My bad, 1% of 20 trillion is not 2 trillion.

[Guilds]

The data shows the private sector estimates have about the same accuracy.

Most of the time, they are pretty close.

[Hellsbane]

Still better than 1.8%. And 2018 is shaping up to be far better. First two quarters of 2018 are up considerably over 2017. Last two quarters, which are generally the highest quarters of the year, will tell the tail.

[PeterGriffin]

The CBO is projecting 3.3% GDP growth for 2018.

The Budget and Economic Outlook: 2018 to 2028

Nobody makes GDP predictions using an “algorithm “. It’s a simple formula. Population growth + increase in productivity = percentage increase in GDP.

[Hellsbane]

Heh, maybe now they are starting to see reality. They still need to see the reality of an expanding base = greater revenues, not less.

[Guntsu]

Or maybe your bias is showing

[Hellsbane]

Bias, maybe. When it comes to tax cuts and who is in office at any given time, the CBO can either be a sweetheart or have their fangs going through the floor. CBO hates tax cuts and all their predictions about tax cuts have been wrong.

[Tilly_jow]

@JayJay

Actual data?

Actual data is for losers.

Just talk truth into existence.

It’s true because I say it’s true!

Trumpsters only talked data when Obama was in office. Lots of data, conflicting data, meaningless data.

Now data means nothing.

[Smyrna]

@CassandraJoe

It all depends on how you handle it. If your country is strong and rich and powerful, the demand for your money will be strong. If your country is chaotic and corrupt, well…

As other economies continue to strengthen, our debt continues to rise along with interest rates to a point that “we” can no longer service it, puts that luxury at risk.

[ImRightYoureWrong]

As long as the debt makes libz head spin then rack it up Mr. President!

[Airyaman]

We’ll make up the balance with the tariffs!

[Smyrna]

@CassandraJoe

Right. So you print more money.

President Trump…is that you?

[hindsight]

CBO is obviously part of the Deep State lizard people.

[PeterGriffin]

This is gibberish. The CBO is non partisan. It just so happens Republican tax legislation is regressive and budget busting.

Even using the rosiest pie in the sky assumptions, the Republicans own numbers shows their tax plan would add over a trillion to the debt and balloon deficits. In the real world, it’s going to be twice as bad.

After the 80’s and Bush era, it boggles my mind that anybody takes Republicans seriously when it comes to the budget and fiscal policy. They’re feckless, reckless, and completely irresponsible.

[mwevans1234]

Rounding error! Who knew budgets were so difficult?!?