Trump’s Magic Budget

Published: 29/05/2017
Trump’s Magic Budget
Source: WWW.PROJECT-SYNDICATE.ORG

Many observers have criticized the White House's budget plan for fiscal year 2018, owing to its optimistic assumptions about underlying economic growth. But the budget appears to be unrealistic in another crucial respect: interest rates – and thus debt-service costs – are supposed to remain low, even as full employment is reached.

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