US CBO: Trump budget would result in average GDP growth over next decade
|The U.S. Congressional Budget Office says that President Trump's proposed fiscal 2018 budget would reduce the deficit by one-third over next decade.
Key quotes (via Reuters):
- CBO estimates smaller deficit reduction than white house due to lower revenue projections
- Trump budget would result in average GDP growth over next decade of 0.1 percentage point more than CBO baseline
- CBO projects deficit under trump budget would be slightly larger than baseline in 2018, about same in 2019, smaller between 2020 and 2027
- CBO estimates that revenues under trump budget would be $0.9 trillion lower than baseline estimates over the next decade
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