Five Key Numbers From President Donald Trump’s 2019 Budget

Article source
Wall Street Journal

Presidential budget proposals are often dismissed by Congress, but they illustrate the White House’s key priorities and assumptions about what those policies would do. Here’s a look at five key numbers from President Donald Trump’s 2019 budget proposal.

Lower Revenues
-$2.7 trillion Over 10 Years

For the decade ending 2027, the Trump administration sees revenues falling lower by around 6%, or $2.7 trillion, compared with last year’s projections. Revenue in 2019, at 16.3% of GDP, would fall to levels traditionally seen only after recessions.

Last year, budget analysts and economists cried foul when the Trump administration appeared to double-count certain revenues. Officials projected economic growth would generate an extra $2.1 trillion in revenues over a decade, but they appeared to count this money both to pay for deficit reduction and to offset the cost of tax cuts.

To continue reading, click here.