Larry Kudlow Says Deficit is Falling. It's Not.
Just this morning on Fox Business, Trump's top economic advisor Larry Kudlow claimed that the federal deficit is "coming down rapidly" because the economy is "throwing off an enormous amount of new tax revenues."
However, according to the nonpartisan CBO, the deficit will almost equal the size of the economy by 2028 in large part because of the GOP tax scam for the rich's windfall in tax breaks for big corporations and the wealthiest few, while ransacking the future of America's children.
We don't know where Larry Kudlow and the Administration are getting their numbers… but media outlets have also noticed Kudlow's outrageous claim. Here's what they're saying:
President Trump's top economic adviser said Friday that the federal deficit is "coming down rapidly," contradicting estimates by nonpartisan analysts, Congress's official scorekeeper and a branch of the White House.
It's hard to know where Kudlow is getting his numbers. The deficit from January through April was $161 billion, according to Treasury, up from $135 billion at the same point last year. And it will deteriorate further from here, since the Treasury collects a large amount of tax revenue during April when taxes are due for most Americans.
CBS News: Trump's top economic adviser says the deficit is going down, but the government disagrees
Larry Kudlow, the president's top economic adviser, claimed on the Fox Business Network on Friday that the federal deficit is "coming down rapidly," as a result of President Trump's pro-growth policies. But the Treasury Department, Congressional Budget Office, and outside think tanks disagree with him.
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Kudlow did not say how he believes the deficit — essentially the amount the government spends that is more than what it takes in as revenue — is going down, when the Treasury Department and Congressional Budget Office say otherwise.
Fiscal Times: Larry Kudlow, Trump's Top Economic Adviser, Says the Deficit Is Falling. It Is Not.
Larry Kudlow, President Trump's top economic adviser, said on the Fox Business Network Friday morning that the federal budget deficit is falling "rapidly." In response to a Maria Bartiromo question about the outlook for economic growth and forecasters who say we might be heading for a recession in 2020, the director of the White House National Economic Council said tax revenues have been boosted enormously.
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Fact check: No, it is not.
The GOP Congress and Administration are taking every opportunity to stack the deck for the wealthy and well-connected against hard-working American families and seniors.
From health care, to taxes, to good-paying jobs, to critical consumer protections President Trump and the GOP Congress are giving the American people a raw deal. Democrats are fighting for A Better Deal: Better Jobs, Better Wages, and a Better Future for everyone.