Donald Trump’s Economic Adviser Raises False Alarm

President Donald Trump’s top economic adviser, Larry Kudlow, has raised a false alarm that the federal deficit is “coming down rapidly.”

“As the economy gears up, more people are getting better jobs and careers, those revenues come rolling in and the deficit, which was one of those other criticisms, is coming down,” he said. “And it’s coming down rapidly. Growth solves a lot of problems.”

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Report has it that between October 2017 and May 2018, the deficit was 23 per cent higher than the same period a year prior.

The report finds that the total deficit for the fiscal year 2018 will be $804 billion, that’s $139 billion more than 2017’s $665 billion deficit. By 2020, the U.S. is expected to run trillion-dollar deficits.

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It is unclear what Kudlow could have been referring to when he said deficits were decreasing.