- Oct 17, 2011
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President Donald Trump is offering a $4.8 trillion election-year budget plan that recycles previously rejected cuts to domestic programs to promise a balanced budget in 15 years — all while boosting the military and leaving Social Security and Medicare benefits untouched.
Fortunately, this proposal is a fantasy for a couple reasons. #1 Balancing the budget in 15 years relies on an optimistic projection of future growth over those 15 years that is faster than we have achieved recently. #2 Congress actually has the power to pass budgets, so at best this is just a wish list of sorts for the president.
Unfortunately, very few people in Congress on either side of the aisle are committed to balancing the budget, so in this election year, we can expect any actual budget to be just as irresponsible as this proposal.
Fortunately, this proposal is a fantasy for a couple reasons. #1 Balancing the budget in 15 years relies on an optimistic projection of future growth over those 15 years that is faster than we have achieved recently. #2 Congress actually has the power to pass budgets, so at best this is just a wish list of sorts for the president.
Unfortunately, very few people in Congress on either side of the aisle are committed to balancing the budget, so in this election year, we can expect any actual budget to be just as irresponsible as this proposal.