Trump says he'll grow economy 3% a year, erase deficit. CBO exposes massive lie.

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3. Trump says he'll grow economy 3% a year, erase deficit. CBO exposes massive lie.

Izec 1 week ago#1 President Trump’s first budget, which he and his budget director claimed would erase the federal deficit within 10 years, would do no such thing, the Congressional Budget Office concludes in a new analysis. The cuts in the president's budget would, the CBO finds, dramatically reduce the deficit, by about $4.2 trillion over 10 years (more than the $2.4 trillion in deficit reduction in Obama’s final budget). But even with those cuts, the total deficit would only be reduced by one-third rather than wiped out completely, as the Trump administration had claimed. The CBO’s deficit reduction estimate is so much lower because the White House claimed its budget would lead to 3 percent economic growth, dramatically increasing tax revenue and closing the gap between what the government brings in and what it spends. But the CBO found that Trump's budget would only mildly improve economic growth. The average economic growth rate would rise by 0.1 percentage points per year, from about 1.8 percent to 1.9 percent. The deficit reduction, meanwhile, would come at the cost of massive cuts to social safety net programs. Federal spending on health care would fall by 13 percent, a $1.9 trillion cut implemented by repealing the Affordable Care Act and then adopting another $610 billion in cuts to Medicaid. Food stamps (or SNAP) would be cut by 21 percent. Spending on international affairs programs at the State Department and elsewhere would fall by 32 percent, environmental and natural resource programs by 21 percent, and community and regional development programs by 37 percent. And the report is almost certainly too optimistic. While it includes the reduction in revenues caused by repealing the Affordable Care Act, the CBO analysis does not include the Trump administration's tax reform proposals, which could cost upward of $3.4 trillion over 10 years according to the Tax Policy Center. "That proposal lacked the specificity necessary to evaluate any effects from such a change," the CBO report writes. "For that reason, CBO and JCT used as a placeholder the administration's estimate that the proposal would have no net budgetary effect." https://www.vox.com/2017/7/13/15964676/trump-growth-budget-cbo-congressional-budget-office So by the end of Trump's term, even if he passes everything he's proposing, he'll only have grown the economy by 0.4%. And the figure of 1/3rds deficit reduction is beforecounting Trump's massive tax cuts for the rich. Almost like his policies aren't worth it huh?

Heineken14 1 week ago#2 This should just accompany any claim made by this sack of shit administration and ESPECIALLY if it comes from king shit turd Donnie himself. Rage is a hell of an anesthetic.

Unknown8050 1 week ago#3 Trumpnazees: "he's like one of us and totally gets us!"

Genericgamer667 1 week ago#4 you misread, he said he would grow the economy for the wealthy only Switch FC: SW-0826-5923-7882 NNID: Seadrake It is a remake, not my fault you people think ports are remakes (but only on Nintendo systems)-Demondog666

hoax123 1 week ago#5 There is no such thing as a fiscally conservative, because all of them goes with the free market fairy over facts. "Government will increase revenue by reducing government revenue, totally makes sense you gaiz!". - Conservatives. Lock her up!

Gradieus 1 week ago#6 Vox lol. How informative.

hoax123 1 week ago#7 Gradieus posted... Vox lol. How informative. Ok now, time to go back and play with your "stocks". Lock her up!

Gradieus 1 week ago#8 hoax123 posted... Gradieus posted... Vox lol. How informative. Ok now, time to go back and play with your "stocks". I'm on vacation, but futures are green, Netflix earnings at close and Made in America Week kicking off, gonna be great!

Sephiroth4747 1 week ago#9 Gradieus posted... hoax123 posted... Gradieus posted... Vox lol. How informative. Ok now, time to go back and play with your "stocks". I'm on vacation, but futures are green, Netflix earnings at close and Made in America Week kicking off, gonna be great!

Genericgamer667 1 week ago#10 Gradieus posted... Vox lol. How informative. it's citing the freaking CBO, what more do you want? Switch FC: SW-0826-5923-7882 NNID: Seadrake It is a remake, not my fault you people think ports are remakes (but only on Nintendo systems)-Demondog666

Gradieus 1 week ago#11 Sephiroth4747 posted... Gradieus posted... hoax123 posted... Gradieus posted... Vox lol. How informative. Ok now, time to go back and play with your "stocks". I'm on vacation, but futures are green, Netflix earnings at close and Made in America Week kicking off, gonna be great! http://reactiongifs.me/wp-content/uploads/2014/04/crying-money-woody-harrelson-zombieland.gif

CherryTsundere 1 week ago#12 Sephiroth4747 posted... Gradieus posted... hoax123 posted... Gradieus posted... Vox lol. How informative. Ok now, time to go back and play with your "stocks". I'm on vacation, but futures are green, Netflix earnings at close and Made in America Week kicking off, gonna be great! This should be the standard gif for whenever he posts something. Behold my beauty!

Gradieus 1 week ago#13 CherryTsundere posted... This should be the standard gif for whenever he posts something. Why?

sfcalimari 1 week ago#14 Trump wants to make the US more economically unequal than Greece: https://www.theguardian.com/inequality/2017/jul/17/trump-united-states-tax-reform-plan-greece-commitment-to-reducing-inequality-cri-index Muh economic anxiety. Obama 2008

CherryTsundere 1 week ago#15 Gradieus posted... CherryTsundere posted... This should be the standard gif for whenever he posts something. Why? Behold my beauty!

fan357 1 week ago#16 Didn't he say we would hit 4 or even 5 percent growth? Everything will be alright.

acolytes 1 week ago#17 "Nobody thought he meant he would literally erase the deficit, except you stupid libs. Stop taking him literally all the lime lol." Empty the Tanks. Ivory Free.

Mr_Church1313 1 week ago#18 In a couple years people are going to be out in the street begging to get their schools, roads, and social services reopened.  Maybe the fabled "INVISIBLE HAND" will decend and erase our deficit like a benevolent God. No no, we've gotta wait until someone edits it into the Wikipedia article, THEN it's irrevocable truth.

IMadepooh4U 1 week ago#19 Izec posted... before counting Trump's massive tax cuts So in other words, they didn't take into account the historically proven, economy boosting benefits of tax cuts. The ancient Oracle said that I was the wisest of all the Greeks. It is because I alone, of all the Greeks, know that I know nothing- Socrates

Mr_Church1313 1 week ago#20 IMadepooh4U posted... Izec posted... before counting Trump's massive tax cuts So in other words, they didn't take into account the historically proven, economy boosting benefits of tax cuts. Yup those tax cuts sure boosted Kansas. Or remember when bush had to raise the taxes back up? No. How bout when Bush 2 tried it and it failed again.  Tax cuts for the wealthy 100% proven to never work. No no, we've gotta wait until someone edits it into the Wikipedia article, THEN it's irrevocable truth.

IMadepooh4U 1 week ago#21 Mr_Church1313 posted... IMadepooh4U posted... Izec posted... before counting Trump's massive tax cuts So in other words, they didn't take into account the historically proven, economy boosting benefits of tax cuts. Yup those tax cuts sure boosted Kansas. Or remember when bush had to raise the taxes back up? No. How bout when Bush 2 tried it and it failed again.  Tax cuts for the wealthy 100% proven to never work. "Company tax cuts provide no boost to employment or growth" The ancient Oracle said that I was the wisest of all the Greeks. It is because I alone, of all the Greeks, know that I know nothing- Socrates

TonyKojima 1 week ago#22 IMadepooh4U posted... Mr_Church1313 posted... IMadepooh4U posted... Izec posted... before counting Trump's massive tax cuts So in other words, they didn't take into account the historically proven, economy boosting benefits of tax cuts. Yup those tax cuts sure boosted Kansas. Or remember when bush had to raise the taxes back up? No. How bout when Bush 2 tried it and it failed again.  Tax cuts for the wealthy 100% proven to never work. "Company tax cuts provide no boost to employment or growth" They don't. Though the XBOX 360 is good in theory, it's hardware limitations say otherwise - Hideo Kojima  PSN - Guncrazy56

Mr_Church1313 1 week ago#23 Give a rich businessman a tax cut and all he'll do is say "Thanks for the free money suckers!" and stash it overseas.  That's literally what happens every time we do something like this. No no, we've gotta wait until someone edits it into the Wikipedia article, THEN it's irrevocable truth.

feudel 1 week ago#24 Gradieus posted... Vox lol. How informative. Gradieus posted... hoax123 posted... Gradieus posted... Vox lol. How informative. Ok now, time to go back and play with your "stocks". I'm on vacation, but futures are green, Netflix earnings at close and Made in America Week kicking off, gonna be great! all day in the basement woo! ????????

Gradieus 1 week ago#25 feudel posted... Gradieus posted... Vox lol. How informative. Gradieus posted... hoax123 posted... Gradieus posted... Vox lol. How informative. Ok now, time to go back and play with your "stocks". I'm on vacation, but futures are green, Netflix earnings at close and Made in America Week kicking off, gonna be great! all day in the basement woo! I don't even have a first floor let alone a basement.

Wydileie2000 1 week ago#26 hoax123 posted... There is no such thing as a fiscally conservative, because all of them goes with the free market fairy over facts. "Government will increase revenue by reducing government revenue, totally makes sense you gaiz!". - Conservatives. I'm not sure why you think Trump is a fiscal conservative. "In science as in love, too much concentration on technique can often lead to impotence." -P.L. Berger

Cecil_Mcneil 1 week ago#27 Trump: "I don't care what CBO has to say about my economics. Even if they make boat loads of money from that hit show. Shameful! "

DragonBlood87 1 week ago#28 CherryTsundere posted... Sephiroth4747 posted... Gradieus posted... hoax123 posted... Gradieus posted... Vox lol. How informative. Ok now, time to go back and play with your "stocks". I'm on vacation, but futures are green, Netflix earnings at close and Made in America Week kicking off, gonna be great! This should be the standard gif for whenever he posts something. No, the standard response to Gradieus should be ignoring him. I have yet to see a single post from him that is worth dignifying with a reply, and he's blatantly just a troll that gets off on the attention he receives. Atheism - A non-prophet organization. The difference between genius and stupidity is that genius has limits

Gradieus 1 week ago#29 DragonBlood87 posted... the standard response to Gradieus should be ignoring him. I have yet to see a single post from him that is worth dignifying with a reply, and he's blatantly just a troll that gets off on the attention he receives. Gradieus posted... I'm on vacation, but futures are green, Netflix earnings at close and Made in America Week kicking off, gonna be great! lmao. Just made another 800+%.

Justin2Krelian 1 week ago#30 Iirc the man claimed he could eliminate the debt, not just the deficit. -J2K

mystic belmont 1 week ago#31 Didn't Gradeus post some guy's reddit account? I'm trying to find that picture. "Freedom was meaningless without ownership and control over one's own body" -Henry McNeal Turner [Evil Republican] 3DS FC: 5429-7297-4842

Gradieus 1 week ago#32 mystic belmont posted... Didn't Gradeus post some guy's reddit account? I'm trying to find that picture. How much did you make on the nflx play I told ya'll about?

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3. Trump says he'll grow economy 3% a year, erase deficit. CBO exposes massive lie.