Trump aims to balance budget with deep cuts, tax overhaul & strong growth

Omkar Godbole FXStreet Contributor

The Wall Street Journal says a Senior White House Budget Official talked about President Trump aiming to balance the federal budget over 10 years with substantial cuts to safety-net programs combined with a tax and regulatory overhaul that speeds up the growth.

The President’s budget is due for release coming Tuesday and shall not include the largest drivers of spending - Medicare and Social Security. The budget will be unveile, while Mr. Trump is visiting Europe and the Middle East.

The Economists are not convinced by Trump’s proposal and say it is based on the unrealistic assumption that “tax cuts will pay for themselves”.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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