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by Xinhua writer Gao Pan


WASHINGTON, May 28 (Xinhua) -- U.S. President Donald Trump's first budget was "wildly unrealistic" in its economic assumption and its policy proposals, a former White House economic advisor has said.


In its first full budget sent to U.S. Congress on Tuesday, the Trump administration assumed sustained economic growth of 3 percent and called for 3.6 trillion U.S. dollars in cuts to domestic agencies and social safety net programs for the poor to balance the federal budget within a decade.


"I don't think the United States needs to balance the budget. The United States should have our debt declining as a share of GDP (gross domestic product) and should have a deficit below about 3 percent of GDP Cheap Colorado Rockies Jerseys ," said Jason Furman, former chairman of the White House Council of Economic Advisers under the Obama administration and senior fellow at the Peterson Institute for International Economics.


"I think the best way to achieve that goal is a combination of spending cuts and revenue increases," with the spending cuts focused on reforming entitlement programs and the revenue increases focused on high-income individuals, Furman told Xinhua in a recent interview.


However, the Trump administration insisted that they would not cut retirement benefits for Social Security or health benefits for Medicare Cheap Detroit Tigers Jerseys , two of the most expensive parts of the federal budget.


They would like making significant cuts to the State Department, the Environmental Protection Agency and other agencies in order to boost defense spending for fiscal year 2018, which starts from Oct. 1, 2017, according to the budget.


Meanwhile Cheap Houston Astros Jerseys , the administration proposed trillions of dollars in tax cuts, aimed mostly at the wealthy, to stimulate economic growth, but assumed it would not add to the fiscal deficit.


According to Furman, experts across the political spectrum agreed that the Trump administration double-counts the 2.1 trillion U.S. dollars in revenue from faster economic growth Cheap Kansas City Royals Jerseys , used both to pay for the tax cut and to reduce the deficit.


"I think something like the double counting in this budget or the defense of a wildly optimistic economic forecast does reflect the lack of trained economists in the Trump administration," he said.


The budget assumed that U.S. economic growth would accelerate to 3 percent by 2021 and remain at that level for the rest of the decade, much higher than the 1.9 percent average growth rate currently projected by the nonpartisan Congressional Budget Office. But there' s no serious discussion in the budget of how this might be achieved.


"A realistic number for U.S. economic growth is about 2 percent, you know more likely a little bit lower than 2 (percent)," Furman said Cheap Los Angeles Angels of Anaheim Jerseys , attributing the slower economic growth to the aging population, the slowdown of workforce growth and productivity growth.


"The U.S. economy is at potential, there's relatively little scope for lowering the unemployment rate and productivity growth has been relatively low," he said.


The budget is expected to meet with resistance from both parties in Congress and start a new round of fiscal fighting in Washington. Republican Senator John Cornyn has described the budget as "basically dead on arrival." Many Democrats have also opposed the steep cuts to non-defense discretionary spending in the budget.


"President Trump's budget is a stark showcase of the president's broken promises to America's hard-working families," House Democratic Leader Nancy . Cheap Authentic Jerseys Cheap NFL Jerseys From China Cheap NBA Jerseys Wholesale Cheap Nike NBA Jerseys Cheap New MLB Jerseys Cheap NCAA Jerseys Cheap NCAA College Jerseys Cheap Baseball Jerseys Wholesale Jerseys Wholesale Jerseys From China