Tuesday, February 28, 2017

Does Trump Understand How The Federal Budget Works?

You'd think someone as politically savvy as Trump would at least understand the basics. The Obama Administration's last fiscal year is the current year. Bush's last fiscal year was 2009, so Obama actually inherited a $200B increase in his first month and Trump inherited a $12B decrease in his first month. The debt level also fluctuates with changes in economic output among other factors. Even if Trump were to reduce the national debt by $12B in 2018 it would be insignificant in the grand scheme of things considering that the national debt is nearly $20T.

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