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This budget commits a jaw-dropping error of economic logic. . In an argument not borne out by history, proponents of tax cuts have long argued that they pay for themselves in the long run by pushing economic growth. The Trump budget imagines that the tax cuts won’t even have any short-term costs. When affluent families start paying less in taxes, the shortfall will magically, and immediately, be made up. But the reality is that our citizens would lose out thanks to cuts in government programs that touch almost everyone: including Social Security, Medicaid and food stamps. “Trump’s budget makes substantial cuts to job-training programs, rental assistance, heating assistance for the elderly, education, and projects at the Centers for Disease Control and Prevention, as well as funding for rural health and substance-abuse programs and education.”
At www.nytimes.com
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