President Trump's budget plan doesn't have the balancing powers he claims it has, the nonpartisan Congressional Budget Office said Thursday. A CBO analysis found that Trump's proposal actually will not balance the budget within the next 10 years, a claim the White House has touted. The Trump administration has said the budget would produce a $16 billion surplus in 2027, but the CBO concluded there would actually be a $720 billion deficit.
Trump's budget will lessen the federal deficit, though not by as much as the Trump administration has claimed. The CBO analysis found that Trump's budget would reduce the deficit by $3.3 trillion, as opposed to the $5.6 trillion reduction promised by the White House. The reductions were credited to the budget's proposed cuts to mandatory and discretionary spending.
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