Trump's budget to set high growth expectations

President Trump's budget, scheduled for release today, will project that the economy continues to grow at 3 percent or higher rate over the next five year, defying the pessimistic forecasts by outside economists. 

The forecasts will show GDP reaching 3.2 percent this year compared to last year and 3.1 percent in 2020, according to a copy of the projections obtained by CNBC.

The nonpartisan Congressional Budget Office forecasts a significant slowdown in growth rate to 1.9 percent next year, as the effect of fiscal stimulus is expected to wane.