May 29, 2020
Trump Administration Withholds its Economic Forecast
The Trump Administration recently announced that it will not include an updated economic projection when it submits its mid-year budget revision to Congress. Federal law requires the executive brach to submit a reestimate of the President’s Budget, but it does not require the underlying economic forecast, notes AAF’s Director of Fiscal Policy Gordon Gray. Nevertheless, it is impossible to construct a credible budget projection without an economic forecast, and by not including this forecast, the administration is simply withholding information from the public, Gray writes.
The Trump Administration almost certainly has updated its forecast and probably does so regularly. Administration officials frequently provide economic estimates and commentary to the public. Accordingly, the administration simply appears unwilling to be responsible to the public for its forecast.