Trump budget proposal counts on optimistic growth, deep cuts

Trump budget proposal counts on optimistic growth, deep cuts

Previous attempts to get funding for the wall, which Trump promised during his campaign would be paid for by Mexico, have caused tremendous problems for the Trump Administration. That's alongside steep cuts in health care and economic support programs for the poor that Democrats - and even some Republicans - will oppose. Under the budget, Medicare spending would be reduced by an estimated $800 billion over 10 years.

"Instead of building a stronger, healthier nation, President Trump's budget would take away Americans' health care and devastate the pillars of economic security for seniors and families". While such forecasts are hard to predict, the White House figure is at odds with projections made by the International Monetary Fund, which anticipates U.S. growth will decline to 2.5% this year and soften further in 2020 as the fiscal stimulus of the Republican-backed 2017 tax cuts fades. Some economists say the economic bump from the tax cuts is waning, and they project slower growth in coming years.

In addition, the US national debt has exceeded 22 trillion dollars, according to the budget document, which said "Washington must fix its longtime spending problem".

What the budget proposal lacks s a projected balanced budget in ten years. The $2.7 trillion in proposed domestic spending cuts over the next decade is higher than any administration in history. It's a risky wager, laid down by the president himself, that he can overcome weakness with moderate and independent voters by turning out even more loyalists in 2020 than he did in 2016.

Some fiscal watchdogs, though, panned the effort as more piling on of debt by Trump with no course correction in sight.

President Donald Trump listens during a meeting in the Cabinet Room of the White House in Washington on Tuesday, Feb. 12, 2019.

Warren added that in addition to such cuts, Trump's budget plan calls for "more ships, more jets, more nuclear weapons, and more money for his monument to hate and division".

The wide-ranging proposal, which revives the president's push to build a U.S. -Mexico border wall, seeks to increase defense spending to $750 billion - including a new Space Force in the military branch - and to reduce non-defense accounts by 5 percent, according to the Associated Press.

"We view the president's 2020 budget proposal as a political priority-setting document".

"Something they gave, millionaires and billionaires excessive tax breaks, and who are they asking to pay for it?" said Biden, speaking at firefighters' conference in Washington, DC.

In addition to Medicaid, the budget outline released Monday says those receiving rental assistance from the Department of Housing and Urban Development would have to work or receive job training for at least 20 hours per week.

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"My 2020 Budget builds on the tremendous progress we have made and provides a clear roadmap for the Congress to bring Federal spending and debt under control".

"We believe that every budget is an opportunity to put forward our vision for the next 10 years", said acting budget director Russell Vought.

The budget also funds the magnet schools program at $107 million and the student-centered funding incentive grants at $50 million.

The budget request would cut Education Department funding by 10 percent while expanding money for school choice, school safety and apprenticeship programs.

Trump is returning to old battles while refraining from unveiling many new initiatives.

Read the full budget plan here.

By refusing to raise the budget caps, Trump is signaling a fight ahead.

Service members received a 3.9 percent pay increase in fiscal year 2009 and a 3.4 percent pay increase in fiscal year 2010 - a decade ago in fiscal years.

Conservatives railed for years against deficits that rose during the first years of Barack Obama's administration as tax revenue plummeted and spending increased during the Great Recession. Lawmakers are uneasy with that and set to vote in the Senate to terminate his national emergency declaration. The standoff over the wall led to a 35-day partial government shutdown, the longest in USA history.

Democratic Rep. Seth Moulton of MA noted that Trump promised to wipe out deficits in eight years as he ran for president in 2016. The White House says it aims to ensure clean air and water and chemical safety, while "reducing regulatory burden and eliminating lower-priority activities".

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