Trump's Budget Proposal Stakes Unique Position for 2020 Election | Craig Eyermann

Trump budget plan pushes back deficit target - US media

As an additional financial burden to those largely "blue" states that took advantage of using Medicaid to cover more people under the Affordable Care Act, the budget would end federal funding to support such expansion - letting the states pick up the financial slack. This proposal is typical: It's full of unrealistic assumptions, as well as "savings" that will never happen.

The Senate Finance Committee is hearing budget testimony from Treasury Secretary Steven Mnuchin and Health and Human Services Secretary Alex Azar this week, however, and White House and congressional budget officials will also testify before the House on Trump's budget proposals.

The Trump White House on Monday released a $4.8 trillion budget for 2021 that calls for steep reductions in spending on safety net programs including Medicaid while proposing greater outlays for the military and an extension of the 2017 Republican tax cuts.

The budget requests $40.8 billion for the State Department and the U.S. Agency for International Development (USAID), a 22 percent decrease from a year ago.

The president rolled out the final budget request for his first term in office. Presidents Ronald Reagan and George W. Bush increased defense spending by 28% and 36%, respectively (and overall spending by 9% and 24%).

The president's budget does not include a specific set of policy changes to lower the cost of prescription drugs, which has been another priority of Trump's presidency.

"For the millions of Americans who rely on Medicaid and other healthcare programs, as well as housing and nutrition programs that promote healthier lives, cuts to these programs will have devastating consequences". The Congressional Budget Office predicts the U.S. economy will grow 2.2 per cent in the current fiscal year, which ends September 30, and grow less than 2.0 per cent in future years.

"Presidents' budgets, regardless of what president, are a chance for members not in his party to beat up verbally on whoever is president", Enzi said. As budget hawks and conservatives have said, the deficit has increased by $2.8 trillion since he took office and is estimated to skyrocket to $4.7 trillion by 2030.

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Enzi also lamented Congress' reliance on stopgap spending bills to fund the government and a lack of momentum to tackle mandatory spending, which makes up the vast majority of the federal budget.

The budget assumes annual real GDP growth at 2.8 percent for 2020 and 3.1 percent for 2021, averaging 2.9 percent over the decade.

The administration has long targeted SNAP for spending cuts. Trump would trim the USDA discretionary budget by more than eight percent from its current levels.

"We should keep in mind, compassion just isn't at all times how many individuals we will get on a authorities program", Mr. Carson stated, "however slightly how many individuals we will help graduate out of a program and into monetary independence". The Washington Post reports, however, that there are planned cuts to Medicaid and the Children's Health Insurance Program.

The economic projections are optimistic.

Across the worldwide affairs budget, the overall reduction to foreign assistance is 21 percent, according to the budget proposal, including cuts to United Nations programs.

"This budget is not a serious proposal, nor is it fiscally sustainable". Instead, they focused on nailing down a compromise on spending caps.

Veronique de Rugy is a senior research fellow at the Mercatus Center at George Mason University.

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