Donald Trump screws up everything he tries to do. And apparently, he and his administration don’t even know how to math. This fact came to light when people who DO know how to add caught a glaring $2 trillion mathematical error in Trump’s budget.
Under the proposed budget released Tuesday, the Trump Administration’s proposed tax cuts would boost economic growth enough to pay for $1.3 trillion in spending by 2027. But the tax cuts are also supposed to be revenue-neutral, meaning that trillion dollars is already supposed to pay for the money lost from the tax cuts.
In a scathing op-ed published by the Washington Post, Former Treasury Secretary Lawrence Summers called Trump’s budget f*ck up an “elementary double count.”
“You can’t use the growth benefits of tax cuts once to justify an optimistic baseline and then again to claim that the tax cuts do not cost revenue. At least you cannot do so in a world of logic,” Summers wrote.
“This error is akin to buying a company assuming that you can make investments that will raise profits, but then, in calculating the increased profits, counting the higher revenue while failing to account for the fact that the investments would actually cost some money to make,” Summers explained further on in his article.
“This is a mistake no serious business person would make,” he pointed out. “It appears to be the most egregious accounting error in a presidential budget in the nearly 40 years I have been tracking them.”
He added that this is “a logical error of the kind that would justify failing a student in an introductory economics course.”
So, when you take all of this into account and do the math correctly, it looks like Trump’s fabulous budget will actually end up costing the United States government somewhere between $3 and $7 trillion over the next decade. Trump sure is making things great again, isn’t he?
Featured image via Win McNamee/Getty Images