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How much deficit reduction will Trump achieve by end of 2025?
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Resolution / Starting Odds
Less than $500 billion • 25%
$500 billion to $1 trillion • 25%
$1 trillion to $1.4 trillion • 25%
More than $1.4 trillion • 25%
CRFB reports or official government budget documents
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Trump Could Slash Deficit by $1.4T on Day One by Reversing Biden's Executive Actions: CRFB Report
Nov 28, 2024, 10:40 AM
President-elect Donald Trump could potentially reduce the federal deficit by $1.4 trillion over the next decade by reversing President Joe Biden's executive actions, according to a report by the Committee for a Responsible Federal Budget (CRFB). The proposed savings include $1.3 trillion from reversing Biden's executive orders, $0.1 trillion from preventing new ones, and an additional $0.6 trillion from other 'low hanging fruit' deficit reduction measures. Specific actions cited include halting student loan forgiveness and reversing costly healthcare measures, such as Biden's proposal for Medicare and Medicaid to cover anti-obesity medication, which is estimated to cost $140 billion over ten years. The report suggests that these moves could be implemented on Trump's first day in office, without the need for Congressional approval.
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Deficit reduced by less than $100 billion • 25%
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