In April, Donald Trump told the Washington Post he could wipe out America's $19 trillion debt in 8 years. But even when CRFB makes allowances for potential growth, it concludes his tax plan would result in a steep loss of tax revenue. Trump's revised economic plan is expected to dial back some of his tax cuts to make them less costly. Trump is set to unveil an update to his economic plan on Monday in Detroit. Trump has proposed spending reductions that amount to an estimated $650 billion over a decade, according to CRFB.

Source: CNN August 08, 2016 00:22 UTC