Proposed White House Budget Calls for Increased Defense Spending

Proposed White House Budget Calls for Increased Defense Spending

Proposed White House Budget Calls for Increased Defense Spending

He said Trump added almost $2 trillion to deficits with the GOP's "tax cuts for the wealthy and large corporations, and now it appears his budget asks the American people to pay the price", the Democrat said. The White House would double down on the 2017 tax cuts by making temporary rate reductions permanent. "We believe the 3 percent growth rate of 2018 will continue in 2019 and beyond 2020 and so forth".

The Committee for a Responsible Budget said Trump's budget would add $10.5 trillion to the debt over a decade, and criticized the White House for what it called a "fantasy assumption" of 3 percent economic growth over that timeframe - higher than the 2 percent average used by independent forecasters. Of course, even the $66 billion is made up of mostly enduring costs that should really be located in the base budget, but have remained in the OCO account for years due to the aforementioned spending limits.

The budget makes no immediate progress on reducing the federal deficit or the national debt, issues once paramount to Trump's fellow Republicans. Instead, deficits have risen almost $500 billion since Barack Obama left office.

Needless to say, as Manu Raju does nonetheless, the Democratic majority in the House will not offer Trump a single dollar on the border wall ... again. The 5% hike in military spending is more than the Pentagon requested from the President. First, he has cut taxes and increased spending so far in his tenure, a recipe that is causing the annual deficit to top $1 trillion for the first time in good economic times.

House Democrats on Tuesday zeroed in on "malicious" proposed cuts to health care and other social programs, reviving their winning midterm message in a first attack on President Donald Trump's proposed $4.7 trillion fiscal 2020 budget proposal.

"At a time when our country faces challenges about jobs for the future, this money would better be spent on rebuilding America, and on education and workforce development for jobs for the 21st Century", the joint statement concluded.

Economic progress made under Trump's presidency has been threatened by "our unsustainable national debt, which has almost doubled under the previous administration and now stands at more than $22 trillion", he said at a White House press briefing on March 11. "It's only now in our third budget that they are willing to have a conversation about the national debt".

"The cruel and shortsighted cuts in President Trump's budget request are a roadmap to a sicker, weaker America", Pelosi said in a statement. She warned the debt load will lead to slower income growth and stalled opportunities for Americans.

Trump called on Monday for spending more U.S. taxpayer money on the military and a U.S. -Mexico border wall, while spending less on social safety-net programs.

Democrats, unsurprisingly, derided the proposed elimination of the Advanced Research Projects Agency-Energy and massive cuts to the Office of Energy Efficiency and Renewable Energy, with House Science Chairwoman Eddie Bernice Johnson (D-Texas) calling the budget "simply absurd".

On Capitol Hill, the budget landed without much fanfare from Trump's GOP allies, while Democrats found plenty not to like.

The plan sticks to budget caps that both parties have routinely broken in recent years.

The budget slashes $2 trillion from health care spending, while trying to collect $100 million in new fees from the electronic cigarette industry to help combat a surge in underage vaping. A large portion of the funding - $140 million - would go to the CDC to improve diagnosis and testing for HIV in areas of the USA where the virus is continuing to infect people not getting proper treatment.

Stacy Dean, vice president for food assistance policy at the Center on Budget and Policy Priorities, said childless adults age 18 to 49 who receive Supplemental Nutrition Assistance Program (SNAP) benefits, or food stamps, already must work 20 hours per week, though the latest proposal appears to extend the requirement to adults up to age 64.

A few months back, Trump demanded $5.7 billion for the wall and when Democrats and some of Republicans opposed he shut down the government for the fund.

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