Former U.S. Treasury Secretary Larry Summers trashed President Trump’s budget calling it the “least honest” and most “incompetent” proposal he’s seen in several decades.
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Any negatives though, Larry?
Republican Congressman Mark Sanford was equally critical of Trump's budget, calling its foundation "a lie".
He added in a statement that "while on its face, the president’s budget request is balanced, the budget only accomplishes this through a combination of very strong economic forecasting and unrealistic future cuts in domestic discretionary spending. Meanwhile, the proposal doesn’t touch 40% of the annual budget - Social Security or Medicare, even though both are on a path toward insolvency."
"The proposed three percent economic growth assumes a Goldilocks scenario regarding several major economic indicators, such as a sustained unemployment rate of 4.8% - when the last 10 years have averaged at 7%. It assumes another 10 years of continuous economic expansion, which would be unprecedented because we are already in our country’s third-longest period of economic expansion. And it ignores significant demographic and financial headwinds, such as the continuing retirement of the baby boomer generation and slowed private investment due to an increased public sphere in the economy."
So at least some Republicans and Democrats are finding a common ground in realizing how much horse poop is behind this budget proposal.