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Politics

Politics

U.S. Political news and discussion. International news and politics also welcome.

9082 members
Posted bymrjazzyin/politics-May 23 at 11:30 AM

Trump Budget Based on $2 Trillion Math Error

Trump Budget Based on $2 Trillion Math Error

One of the ways Donald Trump's budget claims to balance the budget over a decade, without cutting defense or retirement spending, is to assume a $2 trillion increase in revenue through economic growth. This is the magic of the still-to-be-designed Trump tax cuts.

nymag.com
Comments4
  • zhemaoMay 23 at 11:46 AM

    Even without the double-counting error, this would still be a ridiculous claim.

    The current US GDP is $18.6 trillion, so that $2 trillion is more than 10% of our current GDP. Last year's nominal GDP growth was less than 2%. How much growth do you think this tax cut would have to generate in order to pay for itself?

    • HarryHMay 23 at 1:07 PM

      You may wish to distinguish between nominal and real. Nominal GDP is 19T (1Q, 2017 advance) and nominal GDP has risen 3.93% the past year from 18.281T (1Q, 2016 revised).

  • mrjazzyMay 23 at 11:31 AM

    Who knew math was so complicated? But no wonder he managed to bankrupt 3 casinos...

  • CentrifugalSatzClockMay 24 at 2:24 PM

    Why would this surprise anyone?

Politics

Politics

U.S. Political news and discussion. International news and politics also welcome.

9082 members
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