U.S. Rep. Scott Taylor, R-Virginia Beach, will not comment on the Trump budget proposal, the congressman's press secretary said, until after he meets with Director of Office of Management and Budget Michael Mulvaney Wednesday.
We've yet to dive into the weeds of USA president Donald Trump's latest budget proposal, but we're pleased to see he is proposing some long-overdue cuts to the federal behemoth - as much as $3.6 trillion over the coming decade, as a matter of fact.
"My observation is that there appears to be a logical error of the kind that would justify failing a student in an introductory economics course", Summers said of the budget toward the beginning of the piece.
Angela Rachidi, a research fellow at the conservative-leaning American Enterprise Institute, thinks the budget's emphasis on work requirements is a move in the right direction, but says the administration's proposals are premature.
Mulvaney, who probably didn't know he was being interrogated by Sputnik, argued back, saying that Feinberg wasn't duly considering taxpayers and that "we have all kinds of other programs" for poor kids. "Faster economic growth, coupled with fiscal restraint, will enable us to fully fund our national priorities, balance our budget, and start to pay down our national debt", the statement reads. $100 last year, $100 this year, y'all call it a cut. "It is expected that US GDP will increase by 3 percent per year for coming decades", RIA Novosti contributor Igor Gashkov noted. It's been a big economic factor for us, and we're going to fight for that.
The White House says this was a scheduling coincidence. "It used to be normal".
"We have plenty of money in this country to take care of people who need help and we will do that", he said. Where's the economic feedback in the tax revenue numbers?
The Committee for a Responsible Federal Budget's Goldwein calls that magical thinking.
Average growth has declined from its averages in the decades after World War II because fewer workers are entering the economy_largely a reflection of the aging baby boomer population that is starting to retire. "This requires laying a new foundation for American Greatness", the budget message of the USA president says". "The numbers just don't add up". But those would contribute only slightly to economic growth and wouldn't be enough to reach a 3 percent rate. Earlier, this year, the Department of Homeland Security reportedly estimated a border wall will cost about $21.6 billion. The budget also does not include the tax-reform plan the administration has touted, which most estimates figure would add more than $5 trillion to the budget.
Republican leaders in the House said lawmakers would be able to find common ground with the budget plan.
The tax on imports was a core facet of the Republican tax plan pushed by Ryan, created to offset revenue lost through tax cuts. The budget assumes a low 2 per cent inflation rate and an unemployment rate of 4.8 per cent. "So, it's a mistake". Overall, the proposed cuts in safety-net spending would total more than one trillion dollars over the next decade.
Furman also says it's been almost a decade since the last recession, and just about every economist believes another is inevitable over the next decade. But even if it doesn't, why is their projection lower than Obama's?