Business Report: New Trump Administration Budget - Hawaii News Now - KGMB and KHNL

Business Report: New Trump Administration Budget

Let's be entirely candid here. We all struggle with arithmetic.
When it comes to budgeting, we count on the others to be better at math than we are.
Like the federal budget director - he should be, you know, good with numbers.
But a mistake in the new Trump budget is so remarkable, I'm going to remark on it.
The budget is based on the premise that cutting taxes will stimulate the economy so much, it'll pay for itself.
That's been tried before and it's never worked yet, but it's more a questionable premise than an outright arithmetic error.
The error is, the budget double-counts the savings.
It has $2 billion in additional spending, as if the tax cut would generate $2 billion in new revenue twice over.
 

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