By James Burt, Associated PressWASHINGTON (AP) — As President Donald Trump and his allies push for more housing development, a new report from the U.S. government shows how a key federal asset might be undervalued.
The report, by the nonpartisan Congressional Budget Office, said that the federal government should be increasing its housing production in the United States and across the world.
The CBO’s report, released Friday, also found that if current trends continue, the federal deficit will continue to grow at a faster pace in the next 10 years than at any other time since World War II.
The increase in federal spending and borrowing is needed to help support the economy, and it has been a key reason the federal debt has ballooned to $14.6 trillion, the CBO said.
It is not known whether the Trump administration will increase the amount of federal spending or borrow money to pay for the federal housing program.
The U.N. has called for a $1 trillion increase in housing, which includes the federal and state programs.
The $14 billion increase would amount to about 8.3 percent of the nation’s gross domestic product, according to the CBO.
The federal government already spends $4.9 trillion a year on housing.
The Congressional Budget Service is the agency that releases the annual budget projections to Congress.
It’s also the agency responsible for evaluating federal programs, and its report is based on a range of different factors.
The budget office is the government agency that evaluates programs and their costs, and produces reports that are used by Congress.
Its report did not detail how much money should be allocated for housing, other than to say that it could be increased “in part through a gradual increase in the supply of housing.”
The report said that a $5 billion increase in tax incentives for construction of housing could help.
That increase, however, is not expected to be enough to increase housing production by more than 0.5 percent.
The CBO’s projection, however has not been adjusted for inflation.
The federal government has been building homes at a rapid pace since the Great Recession, and the bureau’s projections indicate the housing market is on the mend.
The agency said it expects the housing demand in the U-2 economy, the highest-skilled and most highly paid jobs in the country, will grow at an average annual rate of about 5.5% through 2027, and is forecast to grow by more quickly in the future.
The bureau said in a recent report that about 8% of jobs in 2019 would be in “the lower and middle income groups.”