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OMB Projects Trump’s Economic Plan Will Halve U.S. Deficit in a Decade

According to the Office of Management and Budget, President Trump’s economic agenda is forecasted to reduce the federal deficit by 50% over the next ten years.

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Terms & Concepts
  • Office of Management and Budget (OMB): A U.S. government agency responsible for producing the federal budget and evaluating the fiscal impact of government policies.
  • Federal Deficit: The shortfall that occurs when the government’s expenditures exceed its revenues within a given fiscal year.
  • Economic Agenda: A set of policies and initiatives proposed by a government administration to influence the economy, including taxation, spending, and regulatory measures.