Most government departments would see steep cuts, particularly the State Department and the Environmental Protection Agency.
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“What it fails to recognize is that our national security involves more than just military spending”, he said in a statement. President Trump’s plans for drastic cuts to Medicaid could force already struggling rural hospitals to close – while unprecedented cuts to USDA rural development would cancel programs that create jobs and support small businesses, downtown revitalization, and water projects among many others throughout rural New Mexico.
Today President Trump released the first full budget proposal of his presidency.
“We’re no longer going to measure compassion by the number of programs or the number of people on those programs, but by the number of people we help get off those programs”, Mulvaney said Tuesday at a press briefing.
“We go another half a step further and ratchet down some of the growth rates that are assumed in the AHCA”, Mulvaney said.
“We fear that Tuesday’s budget will show that the president is essentially abandoning many people the economy has left behind – a large number of whom voted for him – and is pursuing policies that would make their lives more hard than they already are”, says Robert Greenstein, president of the progressive Center on Budget and Policy Priorities.
When Brig. Gen. Jehad Matar, head of Jordan’s Syrian Refugee Affairs Directorate, said Jordan sought more USA support, Haley’s answer was concise.
The cuts are part of a budget blueprint for the upcoming fiscal year that begins October 1.
Trump seeks to balance the budget by the end of the decade, according to the plan.
Fortune has reached out to the White House for comment and will update this story with any response.
Democrats are adamantly against the proposal, saying it balances the budget on the backs of the poor.
Trump would keep campaign pledges to leave core Medicare and Social Security benefits for the elderly alone, but that would translate into even deeper cuts in programs for the poor such as Medicaid and food stamps.
Worse yet, though, are the proposed cuts that explicitly trample on some of Trump’s signature promises for what his budget would look like. It proposes new restrictions on government-subsidized crop insurance, a program that is particular favorite of grain farmers. Many economists concluded that we had entered an era of long-term slower growth. Even in IL and Minnesota, the two states that voted for Democrat Hillary Clinton, rural areas supported the Republican.
One might think these draconian cuts at least serve the goal of two grand Trump promises: “Quickly” reducing the $18 trillion federal debt and boosting economic growth by 3%.
The plan is laced with $3.6 trillion in cuts to domestic agencies, food stamps, Medicaid, highway funding, crop insurance and medical research, among others. But lawmakers are also likely to view some of the administration’s accounting gimmicks with extreme skepticism.
The administration is counting on generating $2.1 trillion in additional revenue over 10 years from better economic growth. The one thing the administration has said is people and businesses will pay less; the budget asserts the amount of revenue collected won’t drop.
$3.6 trillion The spending cuts over the decade that the White House says would bring about a balanced budget.
“We’ll see a return to more people with disabilities and more older adults not having access to services that allow them to remain at home”, says Barbara Beckert, director of the Milwaukee office of Disability Rights Wisconsin.
Another interpretation is that the Trump administration has given up on the idea of a tax cut and is planning reforms to the tax system that will not change the overall burden of taxes, but could make the system fairer and more efficient.
“They’re trying to have it both ways”, Goldwein said. “I’m not a fan of surprises, and you have to set realistic expectations, because there are real trade-offs and choices”. One recent survey of 37 prominent economists found none who believed that a tax cut would not add to the national debt.
“Our state’s future depends on this funding to rebuild our coastline”. Even when combined with a rising federal budget deficit, however, these monetary policy moves had much less effect than expected.
While slashing social safety nets, Trump wants a 10 percent increase in military spending and $1.6 billion in funding for a wall on the border with Mexico – a small amount for a massive project estimated to cost between $22 billion and almost $70 billion to construct. So the $2 trillion from higher growth is a double-count.
A spokesman for the Trump administration did not immediately respond to a request for comment. Medicaid cuts finance the plan to “repeal and replace Obamacare”, i.e.to cut taxes. Food stamps would be cut by $193 billion.
– A $52 billion increase in military spending in 2018.
And Sen. Bill Cassidy, R-Louisiana, criticized the proposal’s cuts to programs that fund restoration projects for his state’s coastline.
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Republican leaders in the House said lawmakers would be able to find common ground with the budget plan. But students would only need to repay their loans for 15 years, rather than 20, with the remainder wiped out by the federal government.
