ECO100 Strayer University Exploring Tax Cuts, Jobs, and CBO in the News

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timer Asked: Feb 18th, 2019
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Question Description


Week 8 | Discussion

"Exploring Tax Cuts, Jobs, and CBO in the News"

There has been discussion about whether the Tax Cuts and Jobs Act actually reduces deficits and what will happen to U.S. debt. What do you think?

Watch this video: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates, CBO Says

The video cites the Congressional Budget Office (CBO).

Discuss these questions in your post:

  • Visit the CBO website and confirm that the reporting is accurate. Was the reporting accurate? Why or why not?
  • Do you think the Tax Cuts and Jobs Act will reduce our deficits? Explain your answer.

Discuss with your peers:

  • Reply to a peer’s response. Did they share the same reasoning about the Tax Cuts and Jobs Act as you did?

Tutor Answer

Lessermaster
School: University of Virginia

Attached.

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IMPACT OF U.S. TAX CUTS AND JOB ACT
The report on the video confirms what is documented on the CBO website. According to
the video report, the country’s average budget deficit has been $891 billion every year based on
federal statistics. The deficit has been fluctuating between 4.1 and 4.7 per cent of GDP; hence
the reason why CBO projects it to increase to $900 billion by 2019. Both the CBO website and
the video report are making estimates which are based on the average country’s budget deficit
and their view of future projected revenue collection and s...

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Anonymous
awesome work thanks

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