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Detailed text transcripts for TV channel - CNN - 20170730:17:30:00

whopping $3.4 trillion. how could the smart goldman sachs guys on trump s economic team, gary cohn, steve mnuchin, make such a big basic math error? actually, they did it intentionally. the administration assumed that because of its tax cuts the american economy would grow by 3% a year for the next decade. the cbo instead says the president s plan would increase gdp growth to 1.9%, which most economists agree is the sensible assumption. note that the american economy has grown on average just 1.8% over the last 15 years, no more. this method of fudging the numbers is called dynamic scoring. common sense would tell you that if the government cuts taxes it ll get less money in tax revenues. but sprinkle the magic pixie dust of dynamic scoring and you can project much higher growth rates and then the revenue

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