The nonpartisan Congressional Budget Office (CBO) has released its 2018 “Long-Term Budget Outlook.” Unfortunately for all Americans, it’s even worse than many expected. The 2018 “Outlook” is the first forecast to take into account the tax cuts and spending increases Congress enacted in 2017. Assuming the recent tax cuts and spending increases are maintained over […]
Barry Poulson is emeritus professor of economics at the University of Colorado-Boulder.
Last week, President Donald Trump released his full budget request, outlining priorities for this year and the subsequent decade. He forecasts that by 2027, assuming a 3 percent GDP growth rate, the budget would be balanced and the debt in the hands of the public (about 30 percent is held by federal entities) would be pushed below […]