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The Budget Deficit Outlook, Post-TCJA and Omnibus Budget

Summary:
Relative to before. Source: CBO, Budget and Economic Outlook, April 2018 via Kaplan/NYT. these estimates include macro feedback effects (i.e., dynamic scoring). So much for tax cuts paying for themselves (if anybody ever really believed that).

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Relative to before.

The Budget Deficit Outlook, Post-TCJA and Omnibus Budget
Source: CBO, Budget and Economic Outlook, April 2018 via Kaplan/NYT.

these estimates include macro feedback effects (i.e., dynamic scoring). So much for tax cuts paying for themselves (if anybody ever really believed that).

Menzie Chinn
He is Professor of Public Affairs and Economics at the University of Wisconsin, Madison

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