US President-elect Donald Trump is on a collision course with the Budget

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US President-elect Donald Trump is on a collision course with the Budget - Business Standard

Quick Summary:

Government deficits are the difference between annual revenues and expenditures, and the national debt is the sum of past deficits.

No one knows how much of Mr Trump’s stated agenda is “for real,” and how much of it is political posturing for his base, a show of power for his enemies, or part of a negotiating strategy vis-à-vis Congress and various foreign friends and adversaries.

Of course, the Trump administration will promise some growth miracle, trotting out the old canard about tax cuts paying for themselves.