Trump Plan Postpones Balanced Budget Despite Deep Spending Cuts

This time, though, the President will up the ane, requesting a staggering $8.6 billion to finish major sections of the wall, and begin construction in earnest ahead of the 2020 presidential elections, according to an exclusive report from Reuters. The State Department will see its spending cut by 23 percent, the Environmental Protection Agency will suffer a 31 percent chop, and food stamps will be cut by $17 billion and other welfare programs by $22 billion.

President Trump is releasing a $4.7 trillion budget plan Monday that stands as a sharp challenge to Congress and the Democrats trying to unseat him, the first act in a multi-front struggle that could consume Washington for the next 18 months.

I would just say that the whole issue of the wall, of border security, is of paramount importance.

The Trump administration reportedly will ask Congress for an extra $8.6 billion to help pay for the wall, even after the president declared a national emergency to reallocate funds from other areas for wall construction.

Funding for a border wall is also included, but will likely be completely rejected by the Democrat-controlled House.

President Donald Trump's top economist is brushing off concerns about rising budget deficits and slowing economic growth in advance of the release of the president's 2020 budget.

As the Washington Post's Jeff Stein and Amy Goldstein reported, Trump's budget proposal calls for coverting Medicaid into a block-grant system and handing states the power to set coverage rules-a move that would endanger the healthcare of millions of low-income Americans.

The request, which is to be formally unveiled on Monday, would far exceed the US$5.7 billion Mr Trump demanded a year ago, which led to an impasse that resulted in a 35-day partial shutdown of the U.S. government, the longest ever.

"President Trump has somehow managed to produce a budget request even more untethered from reality than his past two", said Democratic Representative Nita Lowey, chairwoman of the House Appropriations Committee.

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The latest budget aims to balance the budget in 15 years, rather than the traditional 10.

"With severe cuts to essential programs and services that would leave our nation less safe and secure, the Trump budget is as risky as it is predictable".

Kudlow predicted that USA economic growth can continue at 3 percent in 2019 and beyond, even as many private economists look for a slowdown this year as the impact of the 2017 Republican tax cuts wears off.

However, Trump tweaked his payment claims during this year's government shutdown and said Mexico will pay "indirectly" because of a "great new trade deal" that benefits the U.S. They said the money "would be better spent on rebuilding America".

The administration proposes to put $80 billion toward healthcare for vets - which is roughly a 10 percent increase from the current fiscal year - for 'veteran rehabilitation services, education and employment assistance, and suicide prevention'.

The budget also calls on increased military spending, another in a string of proposals that prompted Democrats to label the budget a non-starter that will not win congressional support. House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer vowed to push back against any attempt to force the border wall through Congress a second time. Previously this year it will be $716 billion.

Calling the porous border a threat to safety, Trump in February declared a national emergency in an effort to pull together additional funding for the wall.

The blueprint also provides funding for the Women's Global Development and Prosperity Initiative, a project of the president's daughter, Ivanka Trump.

The House has already voted to revoke the emergency, and the Senate is likely to do the same this week. The administration put the blame on Congress for ignoring proposed cuts previous year, which has resulted in delaying when balance can be achieved.

(Copyright © 2015. All Rights Reserved.)
 
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