Trump 2020 budget has a tremendous amount of borrowing: CRFB president Maya MacGuineas
President Trump’s fiscal 2020 budget proposal projects $7.8 trillion in borrowing over the next ten years.
However, the Committee on a Responsible Federal Budget (CRFB) predicts the federal budget to spike closer to $10.5 trillion in borrowing.
“The White House budget is unrealistic,” CRFB president Maya MacGuineas said on FOX Business’ “Countdown to the Closing Bell” Monday.
The budget calls for $4.746 trillion in spending with revenue coming in short of that with $3.645 trillion. by
“The growth that the government predicts will persist is not predicted by any other serious impartial budget group,” Maya said. “We are also very likely to see a recession in the next decade and that could impact growth significantly.”
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The president’s federal budget proposal goes to Congress to make changes as they see fit.