President Trump’s budget proposals have been defined by a belief that the economy will grow significantly faster than most economists anticipate. The latest version, released on Monday, is a brief departure: It concedes, for the first time, that the administration’s past projections were too optimistic.
Then it goes right back to forecasting 3 percent growth, for the better part of a decade.
Mr. Trump’s $4.8 trillion budget proposal is slightly larger than last year’s $4.75 trillion request and calls for increased spending on the military, the border wall, infrastructure and other priorities, including extending the president’s 2017 tax cuts.
