, 4 tweets, 1 min read Read on Twitter
The shutdown cost the economy $11 billion, $3 billion of which is a permanent loss, acc'g to the nonpartisan Congressional Budget Office.
CBO projected economic growth will slow this year to 2.3%, down from 3.1% as the sugar high from tax cuts abates.
The president who promised economic growth of 4% or more will run for reelection in a year when, CBO projects, growth will decline to 1.7%.
More from CBO: The president who promised he'd erase deficits will run for reelection with deficits having risen every year of his term, to a projected > $1 Trillion in FY 20 from $587 billion (under Obama annual deficits declined after the first global recession year).
Kudlow comes to WH briefing to rebut CBO as too pessimistic on growth. Says Trump will lower deficits by 5% across-board cut in nondefense spending (not SS, Mcare & Mcaid). That's about $30b, a pittance vs deficits but from domestic spending already cut to lowest level on record.
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