Home » Tech

Trump's budget could reduce deficits, just not as much as he claims

14 July, 2017, 00:17 | Author: Abraham Jackson
  • CREDIT screengrab

President Trump's proposed budget for fiscal 2018 already has encountered stiff resistance from Republicans and Democrats alike and is unlikely to be embraced in its entirety when the House and Senate finalize new budget blueprints and spending bills for the coming year.

"The preliminary analysis from the Office of Management and Budget forecast that 26 million people would lose coverage over the next decade, versus the 24 million [the] CBO estimates", Politico reported in March, citing a document obtained by the publication.

The stakes on completing a budget are high for the Trump administration. The White House responded by criticizing the accuracy of the CBO, saying that it "innaccurately [sic] estimated" that 25 million Americans would be covered by Obamacare.

The Senate legislation retained the previous draft bill's phaseout of Obamacare's expansion of Medicaid and sharp cuts to federal Medicaid spending beginning in 2025.

000 demand United Kingdom allow terminally ill baby to travel to US
GOSH said it was acting in Charlie's best interests and it would now be for the High Court to make its judgement on the facts. Speaking outside Great Ormond Street Hospital (GOSH) on Sunday, his parents said: "He's our son, he's our flesh and blood".

Frictionless trade impossible if United Kingdom leaves European Union single market, says Barnier
Barnier urged business to assess, with lucidity, the negative consequences of the UK's choice on trade and investment. However, he also warned that a hard Brexit, involving no deal at all, would be disastrous for both sides.

Border tension between India, China escalates
The current clash between India and China counts as the longest period of dispute witnessed between the two countries after 1962. The two impugned bunkers saw light of the day in 2012 as a backup option besides securing Bhutan China border.

"The cumulative deficit from 2018 through 2027 would be reduced by $3.3 trillion from the $10.1 trillion in CBO's baseline", the report said.

President Donald Trump's proposed budget would slash the federal deficit over the course of a decade, but it would not balance, according to an analysis from the Congressional Budget Office released on Thursday. The administration's tax reform proposal, for example, "lacked the specificity necessary to evaluate any effects", the CBO wrote. The White House promised that its juiced-up economic projections will produce $2.1 trillion in deficit reduction, mostly from overhauling the tax code and reducing the burden regulations have on the economy.

This comes as the GOP pushes for a repeal and replace of Obamacare. When his team released its budget in May, it was off by $2 trillion thanks to ultra-rosy economic predictions and a bit of accounting magic that used the same pot of money twice-once to pay for a tax cut and once to reduce the deficit.

Recommended:

  • Tour de France wrap after stage six

    Tour de France wrap after stage six

    "It was everything I was dreaming of", added the 24-year-old Calmejane, who also won a stage in the 2016 Vuelta a Espana. Froome remained 12 seconds ahead of Sky teammate Geraint Thomas and 14 seconds ahead of Fabio Aru of Italy.
    Peak 2 Fire Evacuation Notices To Stay Active Overnight

    Peak 2 Fire Evacuation Notices To Stay Active Overnight

    The Sheriff's Office encourages the public to comply with the evacuation order, which is in place for the safety of the public. Follow the link in the tweet below for more information on the latest evacuations.
    Record-breaking hot dog champ Joey Chestnut's net worth

    Record-breaking hot dog champ Joey Chestnut's net worth

    Needless to say, this prominent placement allowed me to find my way onto television plenty of times during ESPN's broadcast. He gulped down 72 hot dogs in 10 minutes to once again hold onto his reign, beating last year's record of 70 set last year.
  • Manchester attack: Man arrested over terrorism offences

    Manchester attack: Man arrested over terrorism offences

    Officer Russ Jackson said at a briefing Thursday: "We do believe that there are other people potentially involved in this". Greater Manchester Police also said that they approached Salman's brother Hashem to get more information about the attack.
    Baby Will Not Be Transferred to Rome Pediatric Hospital

    Baby Will Not Be Transferred to Rome Pediatric Hospital

    Over the phone, Alfano raised the case and reiterated the Vatican kids' hospital's offer, the foreign ministry said. In a statement , the Vatican's Bambino Gesù Hospital says it would like Gard transferred to their facility.
    Nitish bashes Congress, says it dumped Bapu ideology

    Nitish bashes Congress, says it dumped Bapu ideology

    Mr Kumar added, "The JD (U ) is not a party which depends on others and my party will not compromise under any circumstances". We were not even aware of their castes.
  • Police make Berlin raids linked to coin heist

    Police make Berlin raids linked to coin heist

    They then transported the coin in a wheelbarrow to the other side of the river where they loaded it into a vehicle and drove away. After several interested buyers came forward, the Mint decided to make a very limited number of coins available for sale.
    Amazon launches a Geek Squad competitor in 7 cities

    Amazon launches a Geek Squad competitor in 7 cities

    The service is live now in seven markets across the USA - including Amazon's hometown of Seattle, among other West Coast metros. The service even includes " Alexa Smart Home Consultations ", where consumers can ask questions and be recommended products.
    Stocks Steady After Release of Fed Minutes

    Stocks Steady After Release of Fed Minutes

    At the June meeting, the Fed gave a clear outline of its plan this year to reduce its portfolio but gave no precise timing. The minutes also indicated that members generally supported the Fed's current strategy for slowly implementing rate hikes.
  • Two Iowa State seniors make All-Big 12 preseason team

    Two Iowa State seniors make All-Big 12 preseason team

    A native of Bakersfield, Calif., Cotton-Moya led the team with three takeaways and tied for the team lead with two interceptions. Exclusive coverage from the event will also be available on the Big 12's digital platforms - Big12Sports.com.
    Paige's brother speaks out about Alberto, claims he beats her

    Paige's brother speaks out about Alberto, claims he beats her

    WWE star Paige's boyfriend is under investigation for an alleged domestic violence incident. There was an incident at Orlando International Airport at about 3 p.m.
    Mother in custody after four children and man found 'stabbed to death'

    Mother in custody after four children and man found 'stabbed to death'

    The mother was detained for questioning while the only surviving child was rushed to the hospital in serious condition. Pihera said the caller was speaking Spanish, which initially made it hard for 911 operators to communicate with her.


Popular

Four young men go missing in Pennsylvania and police fear foul play
He also said that based on information that he "can't share", foul play was likely involved in the disappearance of the young men. Finocchiaro has been arrested multiple times on charges that include drug possession, driving under the influence and assault.

In the recruiting center for United States explosion
Obviously, they would have done it in broad daylight if that were the case, so, from that standpoint, it's a positive", Rice said. The extent of the damage is still unknown, but images from the aftermath show the blast twisted and opened the office's doors.

Opposition picks Gopalkrishna Gandhi for the post of vice-president
The polling for the vice president's post will take place on August 5 and the votes will be counted the same evening. Notedly, his party had broken ranks with the opposition over the presidential election .

Smart home device alerts New Mexico authorities to alleged assault
Many people already enjoy the hands-free convenience of giving voice commands to smart assistants. Police in OH used data from a pacemaker to charge a man with arson and insurance fraud.

US to test Thaad missile system
Australian Prime Minister Malcolm Turnbull after a press conference in Hamburg , Germany for the G20. It flew for 37 minutes before splashing down within Japan's 250-mile economic zone, Davis said.

Splatoon 2 Splatfest Begins Next Week, More Details on Online Multiplayer Revealed
You can identify yourself with your friends in the app using the Nintendo Network ID, friend code, and social media. 3 and Dr. The demo will be a separate file from the global testfire held in march and can be downloaded from the Nintendo eShop today.

Claims Rob has Been Violent with Her
The row began after Chyna sent her ex a photo of another man kissing her as part of a post on America's Independence Day holiday. Unlike Instagram, Twitter does not have a strict nudity policy, but the platform removed the nude photos of Chyna Rob .

China: India 'trampled' global law, treaty in border standoff
It also said that the Chinese "look down" on the Indian military, and India will "suffer greater losses than in 1962" in case of a conflict.

Sagan kicked off Tour for Cavendish elbow
A medical team quickly ran out to treat the Dimension Data team rider, jogging into the oncoming stream of riders to reach him. After Sagan's disqualification, Alexander Kristoff moved up to second place in the stage, with Andre Greipel in third.

Leicester agree to sign Vicente Iborra from Sevilla amid West Ham links
The statement read: " Sevilla and Leicester City have reached an agreement in principle for the transfer of Vicente Iborra ". Leicester City have agreed a deal to sign Sevilla captain Vincente Iborra the Spanish club have announced.