Trump Budget Would Cut Deficit But Wouldn't Balance, CBO Says

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However, the deficits the CBO projects "are larger" than those estimated by the Trump administration, because the White House projects higher revenue due to faster economic growth projections.

The White House's official Twitter account posted a tweet that says, "The Congressional Budget Office's math doesn't add up".

The White House immediately deleted the video with misspelled word "inaccurately" and reissued the video correcting the mistake. But the CBO estimates the budget would not balance, refuting the White House's claim that it would. "Today, just 10.3 million are covered in Obamacare exchanges".

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This video comes as an attack on CBO's heath coverage estimates after the Republican Senate struggle to repeal and replace Obamacare. "Off by over 14 million". When the first version of the Trumpcare bill was unveiled in March, Office of Management and Budget Director Mick Mulvaney tried to discredit the CBO before it even had a chance to release its analysis of the bill, arguing on ABC's This Week that the CBO's analysis of Obamacare was inaccurate.

The nonpartisan tax and budget analysis agency estimates the White House budget proposal rolled out in May would cut the federal deficit by almost one-third from 2018 to 2027 compared to current baseline projections. It attacked the CBO for how they calculate the numbers of people who are covered by health insurance.

To be sure, the president's budget proposal is largely a symbolic measure meant to signal the White House's priorities.

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CBO assessed that the debt burden would rise to 80 percent.

The CBO analysis found that the budget would reduce deficit spending from the current baseline of 3.6 percent of GDP by about a third, with deficits over the decade ranging between 2.6 percent of GDP and 3 percent of GDP.

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