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.

HERE ARE THE FACTS:

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ONE MORE QUICK THING:

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As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

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