Trump's campaign agenda found in his new budget proposal
- Author: Jon Douglas Mar 13, 2019,
Mar 13, 2019, 0:10
However, with his demand for funds for the border wall he wants, Trump has shown-with the longest federal shutdown on record and then his unilateral declaration of a "state of emergency"-that he is willing to go beyond what past presidents might have felt appropriate in order to achieve his budget and spending priorities".
'As you know this is an area where we're exhausted of being right, ' said acting Office of Management and Budget director Russ Vought on CNBC on Monday morning.
Even with the cuts, which the White House said would add up to $2.7 trillion in savings over a decade, the budget office said budget would not balance until 2034, exceeding the traditional 10-year outlook.
"The president's fiscal year 2020 budget promises a new era of "MAGAnomics" and to put "Taxpayers First, '" Ms. Alexander said". Military spending would increase from $715 billion this year to $750 billion.
The White House and Congress must agree on funding by October 1 to keep the government funded and open - which coincides with the deadline to lift the debt limit, or risk a default, which would have severe economic repercussions. "The same thing will repeat itself if he tries this again", said House Speaker Nancy Pelosi, a Democrat from California, and Senate Democratic leader Chuck Schumer of NY.
President Donald Trump's 2020 budget provides for a five per cent increase in defence spending, notably to finance building his controversial border wall, while slashing funds for diplomacy by 23 percent.
The current 2019 budget is more than $4.4 trillion, with a deficit of about $1 trillion expected, largely because of Trump's 2017 tax cuts.
On Capitol Hill, the budget landed without much fanfare from Trump's GOP allies, while Democrats found plenty not to like.
It will also increase resources to fight the opioid epidemic with money for prevention, treatment, research and recovery, the administration said. Of those numbers, Rep. Chip Roy (R-TX) rightly complains, "Consider that the president's budget proposes we spend vastly more money than we take in for 15 years, bust the spending caps again, leave ourselves with about a trillion dollars in deficit spending in fiscal 2020, accumulate debt well over $30 trillion by 2030, and lead us to spending more in interest payments than we do on Social Security or defense". The administration predicts that the United States will return to budget balance in 2034.
The administration sought to highlight three top-line aspects of the budget in a release Monday: moving economic prosperity forward, responsibility, and investment in America.
The White House argues Trump has proposed the most spending reductions of any president and that the tax cuts will pay for themselves and spur higher growth for years, which should also help reduce the deficit. Despite the strong opposition from House Democrats which led to a 35-day partial government shutdown that stretched from just before Christmas until the end of January, Trump plans to request an additional $8.6 billion for the border wall, according to reports.
As Trump has reacted with alarm to caravans heading toward the southern border, critics have the administration on doing enough to provide aid to the countries that are the primary source of the migrants seeking asylum in the U.S.
The House voted February 26 to block the emergency declaration, and enough Republicans have said they'll also vote against it for it to pass in the Senate.
"This budget uses every gimmick and huge assumptions and it still doesn't get somewhere to be proud of", said Maya MacGuineas, president of the Committee for a Responsible Federal Budget.
The Washington Post reported that the president's request for wall funding will come in the form of $5 billion from the Homeland Security Department and $3.6 billion from the Pentagon. Some view it as an overreach of executive power.
President Donald Trump listens during a meeting in the Cabinet Room of the White House in Washington on Tuesday, Feb. 12, 2019.