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You are here News Economy CBO rejects Trump's claim that budget plan would eliminate deficit

CBO rejects Trump's claim that budget plan would eliminate deficit

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Trump budgetThe Congressional Budget Office cast doubt Thursday on the White House’s claim that President Trump’s proposed budget would balance in 10 years.

In its analysis of the spending plan Trump unveiled in May, the non-partisan budget office said that the deficit would shrink under the Trump budget but would still total $720 billion in 2027. The White House had projected a $16 billion surplus in 2027.

The difference is mostly Trump's economic optimism.

“The deficits that CBO estimates would occur under the president’s proposals are larger than those estimated by the administration,” the 23-page analysis concludes. “Nearly all of that difference arises because the administration projects higher revenue collections— stemming mainly from a projection of faster economic growth.”

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