Press Release

Highlights of the President’s Budget

AAF’s Director of Fiscal Policy Gordon Gray analyzes the figures in the president’s budget.

Some highlights:

  • While the budget projects increases in revenues and declines in spending, budget balance remains out of reach;
  • Borrowing from the public would increase as a share of the economy, reaching 82.1 percent of GDP in 2022, before dropping to 71.3 percent of GDP; and
  • The administration is using significantly more optimistic economic growth projections than the Congressional Budget Office.

Read the analysis.