According to CNN, Trump’s new budget contains a massive accounting error that uses the same spending money twice for two different expenses. ⠀⠀⠀⠀⠀⠀⠀
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The budget originally included about $2 trillion in extra federal revenue growth which was supposed to be used to fix the “biggest tax cut in history.” But somehow that same money is also supposed to be used to balance the budget. ⠀⠀⠀⠀⠀⠀⠀
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When it comes to what different members of the administration have to say about the situation, White House budget director Mick Mulvaney says the error was made “on purpose”, while Treasury Secretary Steve Mnuchin said, “This is a preliminary document that will be refined.” ⠀⠀⠀⠀⠀⠀⠀
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Others say that the math just isn’t matching up. ⠀⠀⠀⠀⠀⠀⠀
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Former Treasury Secretary Larry Summers wrote on his blog,
“It appears to be the most egregious accounting error in a presidential budget in the nearly 40 years I have been tracking them.” ⠀⠀⠀⠀⠀⠀⠀
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Let’s see if Trump and his administration can clean this one up.
