Trump Campaign Press Release - White House Releases New Budget Report, Debt Up 9 Trillion Under Obama

"President Obama's final federal budget request calls for more of the same failed policies that lead to slow growth-higher taxes, higher spending, and less freedom. The labor force is 14 million smaller from Americans leaving the workforce under Obama policies. A Clinton presidency would surely continue this policy mix, with the same result. A Trump presidency would put in place strong growth policies that would lower taxes while lowering deficits, and promote strong wage growth for all Americans." - Dan Kowalski, Senior Advisor for Budget Policy

President Obama today released his final Mid-Session review of the federal budget, his final wish list for the future trajectory of federal taxes, spending, and debt. The report uses glowing tones - an "engine of economic expansion" - but describes a disaster in terms of growth and government debt. Noteworthy findings include:

• The Obama administration forecasts economic growth of only 2.2 percent this year, down 0.5 percent from projections made just 6 months ago.

• The long-term outlook has been reduced to only 2.2% per year. That's a continuation of the weakest economic recovery on record. Due to the slow recovery, the U.S. economy has already suffered an $8 trillion reduction in GDP compared to a normal recovery.

• Obama/Clinton tax increases total $3 trillion over the next 10 years, including additional job-killing taxes on energy production, large and small businesses, and individuals.

• President Obama even calls for a 7 percent increase in wasteful Washington non-defense discretionary spending after he leaves office next year.

• Debt under the Democrat policies soars from $19 trillion today to almost $27 billion ten years from now - and the Obama administration calls that an accomplishment.

• President Obama has operated for almost eight years without caring much about the budget. He will have added more debt than all the previous presidents combined.