Trump budget to propose slashing domestic spending, boosting defense
Source: Washington Post
Trump budget to propose slashing domestic spending, boosting defense
By Damian Paletta and Erica Werner March 8 at 5:16 PM
President Trump on Monday will propose major spending cuts across a range of domestic government programs while seeking a large increase for the Pentagon, a budget plan that’s already encountering withering opposition from Democrats who control the House — as well as some Republicans.
The budget has little chance of becoming law because of bipartisan resistance to many of its elements, but it sets forth the White House’s vision ahead of what is expected to be a fierce battle over government spending later this year.
Even with deep spending cuts, the president’s plan would not balance the budget until the mid-2030s, two people briefed on the plan said, falling far short of the 10-year time frame that Republicans have sought for years. The people requested anonymity to discuss the plan ahead of its public release.
Instead, Trump’s advisers say the budget would balance after 15 years because they presume economic growth will continue at high levels and bring in more revenue, a prediction that many economists have said is not possible.
Still, the White House’s new 15-year deficit target illustrates the fiscal constraints of an agenda that prioritizes tax cuts and increased defense spending while simultaneously protecting big-ticket items like Medicare from any major changes.
-snip-
Read more: https://www.washingtonpost.com/business/economy/trump-budget-to-propose-slashing-domestic-spending-boosting-defense/2019/03/08/1758b6e0-41c2-11e9-a0d3-1210e58a94cf_story.html
= new reply since forum marked as read
