Make Kitco Your Homepage

Trump adviser sees U.S. budget gaps of 4 percent to 5 percent of GDP

Kitco News

NEW YORK (Reuters) - A top adviser to President Donald Trump said on Monday he expects U.S. budget deficits of about four percent to five percent of the nation’s economic output for the next one to two years, adding that there would likely be an effort in 2019 to cut entitlement program spending.

White House economic adviser Larry Kudlow, speaking at the Economic Club of New York, also said he did not expect Congress would be able to make recent individual tax cuts permanent before the Nov. 6 midterm congressional elections.

Reporting by Chris Prentice in New York; Additional reporting by David Lawder in Washington; Writing by Susan Heavey; Editing by Tim Ahmann

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News

Mucha Colorized coins