Exploring Tax Cuts, Jobs and CBO In the News

The tax cuts and spending increases in the U.S. budget deficit are estimated to exceed $1 trillion by 2020. According to the Congressional Budget Office, these tax cuts signed by President Donald Trump will cause a failure in boosting the long-term economic growth. The revenue shall be surpassed by the national spending with $804 billion in the fiscal year in September. This will increase budget deficits since the projected amount in June was $563 billion. The effects run to the fiscal year 2019, where the deficit is projected to reach $981billion, an amount high than the actual projection of $689 billion (Wasson & McGregor, 2018).

According to the CBO’s report last June, the trillion-dollar level is contrary to a 2022 achievement in the nation’s budget gap. However, the increased growth of deficits in Trump’s administration due to a tax overhaul tends to curve to low federal revenue; thus, this will negatively affect the U.S. debt significantly. Investors should now worry due to the arising tariff threats between the U.S. and China that pose a potential negative impact on the world economy. The recent tax and spending legislation have led to more debt on the existing unsustainable trajectory. This will lead to a major damage in the fiscal outlook of the nation’s budget. It will also stimulate a rise in real GDP more than the potential GDP in the coming years.  The unemployment rate will, however, see a decrease to 3.3% in 2019 (Wasson & McGregor, 2018). Consequently, there will be a reduction in personal income tax rates in the future. I think the recent fiscal measures predicts an increase in pressure on matters such as health care due to an aging American population. 

Don't use plagiarized sources. Get Your Custom Essay on
Exploring Tax Cuts, Jobs and CBO In the News
Just from $13/Page
Order Essay

ReferencesWasson, E., & McGregor, S. (2018, April 9). U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates, CBO Says. Bloomberg. Retrieved from https://www.bloomberg.com/news/articles/2018-04-09/u-s-budget-deficit-to-balloon-to-1-trillion-by-2020-cbo-says

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
Live Chat+1(978) 822-0999EmailWhatsApp

Order your essay today and save 20% with the discount code LEMONADE