White House to dumb to realize budget included ‘egregious’ accounting error until after they had released the final draft. Doh!

A former US treasury secretary says it is the “most egregious” mistake he has seen in four decades.

…Mr Summers, also formerly chief economist of the World Bank, was one of the first to spot the apparent mistake.

“It appears to be the most egregious accounting error in a presidential budget in the nearly 40 years I have been tracking them,” he wrote on his blog.

He said the spending plan was “simply ludicrous”.

The budget forecasts about $2tr in extra federal revenue growth over the next 10 years, which it uses to pay for Mr Trump’s “biggest tax cut in history”.

But that very same $2tr is then used to reduce the budget deficit.

“My observation is that there appears to be a logical error of the kind that would justify failing a student in an introductory economics course,” Mr Summers wrote.

White House denies ‘egregious’ budget accounting error – BBC News

This White House is staffed by incompetent morons.


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