BREAKING: Trump Budget Numbers Make No Sense

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Jon Chait says the Trump White House has made a $2 trillion mistake:

Trump has promised to enact “the biggest tax cut in history.” Trump’s administration has insisted, however, that the largest tax cut in history will not reduce revenue, because it will unleash growth….But then the budget assumes $2 trillion in higher revenue from growth in order to achieve balance after ten years. So the $2 trillion from higher growth is a double-count. It pays for the Trump cuts, and then it pays again for balancing the budget.

It’s true that the budget summary document includes a line item called “Effect of economic feedback” (in Table S-2) that comes to $2.062 trillion over ten years. Is that the same as the economic feedback that will pay for tax cuts? Who knows, really. It’s all just made-up nonsense anyway. But here’s an interesting thing. In the detailed projections, the Trump budget projects lower tax revenue than the final Obama budget:

What’s up with that? Does the Trump budget not include any economic feedback after all? But even if it doesn’t, why is their projection lower than Obama’s? Is it so they can use this lower number as a new baseline for comparison when they unveil their growth-exploding tax plan later in the year?

I know, I know: who cares? The Trump numbers are just random gibberish plucked from the sky. Still, you’d think they could at least make them agree from one spreadsheet to the next. Where’s the economic feedback in the tax revenue numbers?

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REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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