Everyone knew it was a lie when Donald Trump and GOP leadership did it, and now White House officials are finally conceding what everyone knew. Their $1.5 trillion tax giveaway to the rich will not even come close to paying for itself, reports the New York Times.

The tax cut did provide a short-term boost to the economy, but Trump administration officials now admit that it cannot sustain the 3 percent growth they had forecasted over the long term. Naturally, Trump told an even bigger lie, touting a sustained 5 percent growth rate (and sometimes higher), while his advisers pushed a still heady, but slightly less fantastical, 3 percent long-term growth rate. Well, not so much.

A new report from the administration says the only way to meet that 3 percent pledge over the next decade would be to make more regulatory rollbacks on labor policies, pass a $1 trillion infrastructure plan, and enact another tax cut—because apparently the one Republicans conceived of and passed on their own was crap.

C'mon, who do these bozos think we are? Honestly, even if all these measures were possible with Trump at the helm (and they’re not), why in the heck should Americans believe a word of it? These are the same people who tossed out wildly unrealistic growth predictions and insisted they were true in the face of basically every real economist and other experts saying they were being unrealistic.

As it is now, White House aides say the economy will slow to a 2 percent growth rate by 2026 if nothing is done to goose it again. Frankly, even that may be an overly sunny prediction.