President's Budget Again Relies on Optimistic Economic Projections and Unlikely Spending Cuts
Similar to previous years, this budget largely relies on very optimistic projections of economic growth and unlikely budget cuts to reduce the deficit.
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Similar to previous years, this budget largely relies on very optimistic projections of economic growth and unlikely budget cuts to reduce the deficit.
How do the House Budget and the President’s Budget differ?
On our current path, CBO projects that deficits will reach $1.0 trillion by 2022 and total $10.1 trillion over the next ten years.
https://www.pgpf.org/analysis/2017/06/cbo-unsustainable-deficits-threaten-future-economic-growth
The President's budget has a worthy goal of deficit reduction. However the economic assumptions underlying the president’s budget are optimistic.
https://www.pgpf.org/analysis/2017/05/analysis-of-the-presidents-fy-2018-budget
Making changes to defense, health care and Social Security will help us reduce our debt, and also leave money to fund other critical responsibilities and invest in our future.
https://www.pgpf.org/budget-basics/the-other-20-of-federal-spending
The Peterson Foundation releases a statement on the deal to end the government shutdown.
The two proposals present distinct visions of the role of the federal government in our economy.
https://www.pgpf.org/analysis/fy-2015-budgets-comparing-chairman-ryans-and-the-presidents-proposals
If all of the proposals in the budget were adopted, government debt would still soar to unsustainable levels in the long run, even under the optimistic assumptions used in the administration’s long-run projections.
The Peter G. Peterson Foundation is providing a $1 million grant to the newly established Warren B. Rudman Center for Justice, Leadership and Public Policy at the University of New Hampshire School of Law.
“It’s unfortunate that even the Committee’s draft package of modest recommendations failed to advance. Significant work remains to address America’s fiscal challenges and the Committee’s proposals could have been a small step in the right direction to improve our budget process." Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said.