Trump To Propose Slashing Entitlements, Boosting Defense in $4.4 Trillion Budget Reduction
Trump To Unveil Huge Spending Cuts in America-First Budget
Volume 90%
By Jack Davis
Published February 10, 2020 at 6:54am
President Donald Trump is proposing a $4.8 trillion federal budget that makes drastic cuts in foreign aid while increasing funding for homeland security.
The budget, which is being formally released on Monday, also proposes cutting $4.4 trillion in federal spending over the next 10 years, largely through cuts to the Supplement Nutrition Assistance Program (formerly known as food stamps) and other welfare programs that would see more stringent work and eligibility requirements put in place, according to Fox News.
Trump’s budget also calls for trimming Medicare by lowering drug prices. “Working together, the Congress can reduce drug prices substantially from current levels,” the president said in his State of the Union speech last week. “I have been speaking to Senator Chuck Grassley of Iowa and others in the Congress in order to get something on drug pricing done, and done properly.
“I am calling for bipartisan legislation that achieves the goal of dramatically lowering prescription drug prices. Get a bill to my desk, and I will sign it into law without delay.”
Trump’s budget would reduce foreign aid by 21 percent, according to NBC News.
It would also wipe out funding for the Corporation for Public Broadcasting. The AmeriCorps volunteer program is also on the chopping block, according to CNBC
The Environmental Protection Agency would receive a 26 percent cut in Trump’s budget, while the Department of Housing and Urban Development would take a 15 percent hit.
Not everything was cut. The Department of Veterans Affairs would get a 13 percent spending hike, while the Department of Homeland Security would see a 3 percent increase.
In addition to the border wall funding, within DHS, Trump is seeking a 7 percent increase for the Customs and Border Protection agency and a 23 percent boost for Immigration and Customs Enforcement.
NASA would get a 12 percent increase.
The budget would allocate $28.9 billion to the Pentagon to modernize nuclear delivery systems and $19.8 billion to the National Nuclear Security Administration for “modernizing the nuclear weapons stockpile,” according to Axios.
The White House estimates that the federal deficit will be eliminated in 15 years, largely through economic growth.
“First and foremost, we have to restore growth,” Vice President Mike Pence said Friday on CNBC. “That’s how we will deal with the long-term fiscal challenges facing our country.”
The budget faces strong opposition in the Democrat-controlled House.
#1: Darkwing To: BTP Holdings (#0)
Darkwing posted on 2020-02-12 09:51:25 Reply Private Reply
#2: BTP Holdings To: Darkwing (#1)
Money for highways and bridges comes from the excise tax on motor fuels.
When I drove big truck to Florida every week, we tried to get out of the State without purchasing diesel since the excise was so high. They would just settle up quarterly by paying IFTA.
Sometimes we had to stop and put on $50 worth to get out of the state. I was out there a few times pumping injectors since we sucked air.
My co-driver ran out in intersection once. A cop pulled up and he said, "What do you want me to do? It's out of fuel." We had to call for a service truck to bring out fuel. That was extra. ;)
BTP Holdings posted on 2020-02-12 10:38:40 Reply Private Reply
#3: Anthem To: Darkwing (#1)
Trump is no friend of the poor. If he wanted to do something about homelessness he would incentivize cities to loosen zoning restrictions on apartment buildings and condominiums.
www.cbpp.org/research/foo...or-millions-and-radically
Anthem posted on 2020-02-12 17:24:52 Reply Private Reply
#4: BTP Holdings To: Anthem (#3)
These people in California turned the garage into a studio apartment they rent out for $350 a month. Affordable housing is so scarce out there even bus drivers that make $25,000/year cannot afford rent and live in their vans. ;)
BTP Holdings posted on 2020-02-12 17:31:27 Reply Private Reply