Trump Policies Will Cut Deficits Up to $11 Trillion, White House Economist Says by Skylar Woodhouse
President Donald Trump’s policies will reduce US fiscal deficits by up to $11 trillion over the coming decade, according to the White House’s chief economist Stephen Miran, Chair of the Council of Economic Advisers— a projection that defies analysts who say government debt is poised to climb to record highs in coming years. About half the savings, or $3 trillion to $5 trillion, would come from faster economic growth — thanks to the pending Republican tax cut bill, along with deregulation efforts — Miran argued. He also cited a $3 trillion bump in revenues from Trump’s tariff hikes, referring reporters to the Congressional Budget Office’s recent calculation — which came in at $2.8 trillion. Reduced debt loads thanks in part to those savings will help to bring down the US Treasury’s interest costs by approximately $1 trillion to $1.5 trillion, he said. “Those are very big numbers.” Trump Policies Will Cut Deficits Up to $11 Trillion, White House Economist Says
