The Budget Floated by Trump Doesn't Balance

Almost everyone has a simple cure for America's stubborn budget deficits: faster economic growth. The Trump administration is particularly keen on this. It argues that its proposed tax reductions and regulatory cuts will accelerate economic growth and shrink the deficits. No doubt faster growth would help. But a more realistic appraisal is that, even with accelerated growth, huge gaps would remain between government spending and taxes.