The WaPo:
President Trump's top economist blasted the Congressional Budget Office on Tuesday, dismissing the scorekeeper's recent projections that the Republican tax law would push the nation's annual deficit over $1 trillion.
“Never believe the CBO. Very important: Never believe them,” Larry Kudlow, director of Trump's National Economic Council, said during an interview on “Fox & Friends.” “They're always wrong, especially with regard to tax cuts, which they never score properly.”
Trump reportedly watches “Fox & Friends” regularly and often reacts to the programming either on Twitter or with proposals for action.
Kudlow's remarks reflect a widespread belief in the Republican Party that the CBO has failed to adequately account for higher economic growth when estimating the tax law's effect on the deficit. The CBO said the tax law will cut government revenue by $1.8 trillion over the next 10 years, or by $1.3 trillion when factoring in potentially higher growth spurred by the law.
Kudlow, a longtime television commentator who was tapped last month to lead the economic council, said CBO's estimates of growth under the law should be much higher. He argued that the tax law will create far greater economic growth than most nonpartisan forecasters estimate.
Dude, chill, it's an empirical question. The tax law has been passed, I don't notice anything in my paycheck and we can find out just how much bigger the deficit is going to be when the time comes.
My guess is that Larry Kudlow's distrust of the CBO won't have much effect on the mid-term election anyways. But wait, isn't Kudlow the guy who always gets it wrong? (that's his quote in the title)
