US CBO: Trump budget would result in average GDP growth over next decade

The U.S. Congressional Budget Office says that President Trump's proposed fiscal 2018 budget would reduce the deficit by one-third over next decade.

Key quotes (via Reuters):

• CBO estimates smaller deficit reduction than white house due to lower revenue projections
• Trump budget would result in average GDP growth over next decade of 0.1 percentage point more than CBO baseline
• CBO projects deficit under trump budget would be slightly larger than baseline in 2018, about same in 2019, smaller between 2020 and 2027
• CBO estimates that revenues under trump budget would be $0.9 trillion lower than baseline estimates over the next decade