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GOP’s Silence on Deficits Under Trump Marks Turnabout for Party

  • Congress likely to reject proposals to stanch river of red ink
  • Higher spending, expanding debt has shaken financial markets
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Key Takeaways From Trump's Budget Proposal

President Donald Trump’s budget blueprint doubles the deficits he forecast a year ago with little expectation they’ll shrink anytime soon.

As a result, the $20 trillion federal debt that Trump railed against as a candidate is projected to balloon to $30 trillion a decade from now. And that’s despite the healthy dose of economic optimism in Monday’s budget: 3 percent growth, low inflation, low interest rates and low unemployment each year. It also assumes trillions in spending cuts Congress has already rejected.