White House Proposes $4.4 Trillion Budget That Adds $7 Trillion to Deficits
18 replies, posted
[QUOTE]WASHINGTON — President Trump [URL="https://www.whitehouse.gov/wp-content/uploads/2018/02/budget-fy2019.pdf"]sent Congress a $4.4 trillion budget[/URL] proposal on Monday outlining steep cuts to domestic programs, large increases in military spending and a ballooning federal deficit that illustrates how far Republicans have strayed from their longtime embrace of balanced budgets.
The blueprint has little to no chance of being enacted as written and amounts to a vision statement by Mr. Trump, who as a businessman once called himself the “king of debt” and has overseen a federal spending spree that will earn him that title in an entirely different arena.
The White House budget request would add $984 billion to the federal deficit next year, despite proposed cuts to programs like Medicare and food stamps and despite leaner budgets across federal agencies, including the Environmental Protection Agency.
Mr. Trump’s budget statement calls deficits the harbingers of a “desolate” future, but the White House plan would add $7 trillion to the deficit over the next 10 years.
Last week, Mr. Trump signed a [URL="https://www.nytimes.com/2018/02/07/us/politics/budget-deal-trump.html"]two-year bipartisan budget deal[/URL], struck by congressional leaders largely without his involvement, to boost both domestic and military spending by $300 billion. Mr. Trump’s budget, which was drawn up before that package was completed, does not entirely embrace the law that he signed just days ago and proposes spending less on domestic programs than what Congress — and Mr. Trump — agreed to last week.
On Monday, Mick Mulvaney, Mr. Trump’s budget director, informed Speaker Paul D. Ryan, Republican of Wisconsin, in a letter that the administration “does not believe these nondefense spending levels comport with its vision for the proper role and size of the federal government.”
That law increases military spending by $195 billion over the next two years and nondefense spending by $131 billion over the same period. The White House is proposing $540 billion in nondefense spending for 2019 — $57 billion below the new spending cap set by Congress.
The plan contains at least $1.8 trillion in cuts to federal entitlement programs such as Medicaid, Medicare and food stamps.
The White House is proposing to cut funding for a low-income food program known as the Supplemental Nutrition Assistance Program, or SNAP, by more than 30 percent over a decade. It would also impose work requirements for “able bodied” recipients of food stamps and change how they get their benefits, replacing a portion of the coupons that allow them to purchase food at a grocery store with a premade box of “100 percent American grown foods provided directly to households.”
The Department of Housing and Urban Development’s budget [URL="https://www.hud.gov/sites/dfiles/CFO/documents/9 - FY19CJ - PIH - Public Housing Capital Fund.pdf"] proposes allowing public housing authorities[/URL] and property owners to set minimum work requirements for those in public housing as a way to control costs.
Mr. Mulvaney, in his letter, said domestic spending at the levels Congress authorized would add too much to the federal deficit.
Instead, he proposed using about $11 billion of the money to scale back the social safety net by changing the way health entitlement programs are paid for. That would essentially mean getting rid of mandatory programs now funded automatically and without congressional approval, and covering the cost with discretionary funds that could be cut or redirected in the future.
The message, Mr. Mulvaney said, was, “You don’t have to spend all of this money, Congress, but if you do, here’s how we would prefer to see you spend it.”
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[QUOTE]Mr. Trump’s plan could easily result in much larger federal deficits. The administration made its calculations using assumptions about the United States’ economic trajectory that are more optimistic than the consensus among private-sector forecasters, or the assumptions used by other parts of the government.
The assumptions in Monday’s release are also significantly more optimistic than the Trump administration itself used in its budget calculations last year.
Most notably, the administration projected annualized economic growth of 3.1 percent over the next three years. In December, the Federal Reserve projected annualized growth of [URL="https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20171213.pdf"]2.2 percent over that period[/URL]. The Survey of Professional Forecasters [URL="https://www.philadelphiafed.org/research-and-data/real-time-center/survey-of-professional-forecasters/2018/survq118"]estimated the annualized growth rate to be about 2.4 percent[/URL].
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Source: [URL]https://www.nytimes.com/2018/02/12/us/politics/white-house-budget-congress.html[/URL]
Budget (160 page PDF): [URL]https://www.whitehouse.gov/wp-content/uploads/2018/02/budget-fy2019.pdf[/URL]
its like he's determined to raise the deficit more in the next 10 years than the last 50 combined
[QUOTE=LZTYBRN;53127547]its like he's determined to raise the deficit more in the next 10 years than the last 50 combined[/QUOTE]
That way when a Democrat is in office they can say "Sorry man we can't possible afford universal healthcare or free college and in fact we have to cut spending on social safety net programs :("
[QUOTE=Maegord;53127571]That way when a Democrat is in office they can say "Sorry man we can't possible afford universal healthcare or free college and in fact we have to cut spending on social safety net programs :("[/QUOTE]
"...oh, and also - we need some more tax cuts for the top 0.01% to stimulate the economy via trickle down!"
funfact, this has the grand trifecta of cuts, gutting medicaid, medicare AND Social Security gutting (for millenials)! also included is a disbanding of dozens of agencies responsible for agriculture, small businesses, rural jobs, and more and is rounded out with a nice ACA repeal.
[editline]12th February 2018[/editline]
oh and it replaces SNAP with government ration boxes. ya look it up, i'm fucking serious, government issued ration boxes
because conservatives love big bloated government programs that target the poor
Government issued ration boxes... seriously? Did we return to the Cold war except the US is also the USSR?
How?! How can anyone be going for this?!
[QUOTE=doomkiwi;53127606]How?! How can anyone be going for this?![/QUOTE]
It doesn't seem like anyone is going for this. Republicans are already criticizing some of the cuts as going too far while simultaneously complaining about the ballooning of the deficit, and the entitlement cuts are a non-starter for Democrats.
Of course Republicans are known for swallowing anything the White House prepares for them and the Democrats are known for rolling over so who knows.
[editline]12th February 2018[/editline]
[QUOTE=Sableye;53127584]funfact, this has the grand trifecta of cuts, gutting medicaid, medicare AND Social Security gutting (for millenials)![/QUOTE]
[media]https://twitter.com/NancyPelosi/status/963132524213030914[/media]
[media]https://twitter.com/realDonaldTrump/status/596338364187602944[/media]
:godzing:
[QUOTE=Sableye;53127584]funfact, this has the grand trifecta of cuts, gutting medicaid, medicare AND Social Security gutting (for millenials)! also included is a disbanding of dozens of agencies responsible for agriculture, small businesses, rural jobs, and more and is rounded out with a nice ACA repeal.
[editline]12th February 2018[/editline]
oh and it replaces SNAP with government ration boxes. ya look it up, i'm fucking serious, government issued ration boxes
because conservatives love big bloated government programs that target the poor[/QUOTE]
Why are conservatives so piss evil?
[QUOTE=Zakkshockv2;53127696]Why are conservatives so piss evil?[/QUOTE]
Because trying to help anyone other than yourself is clearly [I]socialism[/I]
Stop trying to be a good person, that's not being a true American, alright?
[QUOTE=Zakkshockv2;53127696]Why are conservatives so piss evil?[/QUOTE]
Money and general hatred for the poor
[QUOTE=Marcolade;53127712]Because trying to help anyone other than yourself is clearly [I]communism*[/I]
Stop trying to be a good person, that's not being a true American, alright?[/QUOTE]
fixed
Fuck Trump and fuck the GOP. Nothing more to say really.
This goes away with student loan forgiveness and what have you. Bullshit.
[QUOTE=F.X Clampazzo;53127604]Government issued ration boxes... seriously? Did we return to the Cold war except the US is also the USSR?[/QUOTE]
I think more people would be in line for black bread and vodka than for whatever mystery chmeat handwich they include in their ration boxes.
Also, funny thing: Imagine if a Democrat proposed this. Or if Democrats in Congress wrote it in to compromise with Republicans on a Medicaid Expansion bill or something.
Just imagine Alex Jones' reaction to Democrat-endorsed, government-issued, mostly-served-in-poor-rural-states lunchboxes.
[QUOTE=Zakkshockv2;53127696]Why are conservatives so piss evil?[/QUOTE]
because malthus or at least he was the first to put "fuck the poor, they don't deserve to live." in writing.
I very much wonder how long the US has as a "superpower" after the Trump presidency.
[QUOTE=HumanAbyss;53128780]I very much wonder how long the US has as a "superpower" after the Trump presidency.[/QUOTE]
depends on the state of politics, if after trump the GOP absolutely collapses and the kochs and adelson kick the bucket then maybe we can recover
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