Larry Kudlow in 2018 FactCheck

On Budget & Economy: FactCheck: No, deficit is increasing with Trump tax cuts

In June 2018, Kudlow asserted that the tax cut was generating such growth that "it's throwing off enormous amount[s] of new tax revenues", and "the deficit, which was one of the other criticisms, is coming down--and it's coming down rapidly". Both assertions were incorrect. Since the tax cut was enacted, federal tax receipts increased 1.9% on a year-on-year basis, while they increased 4.0% during the comparable period in 2017. By the same method, the federal budget deficit increased 37.8% while it increased 16.4% during the comparable period in 2017. Kudlow later asserted he was referring to future deficits, although every credible budget forecast indicates increasing deficits in coming years, made worse by the Trump tax cut if not offset by major spending cuts. Barring such spending cuts, the CBO projected the tax cut would add $1.27 trillion in deficits over the next decade. Source: Wikipedia.com Fact-Check on 2018 Trump Cabinet members Dec 31, 2018

The above quotations are from Fact-checking on 2018 gubernatorial and Senate campaigns. Click here for other excerpts from Fact-checking on 2018 gubernatorial and Senate campaigns. Click here for other excerpts by Larry Kudlow. Click here for a profile of Larry Kudlow.
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Page last updated: May 24, 2020