Trump Budget Sees $1 Trillion Deficits for Next Four Years

Trump Budget Sees $1 Trillion Deficits for Next Four Years

President Donald Trump delivered a 2020 budget to Democrats on Monday that cuts spending across the board yet still isn't projected to balance for 15 years, even with ambitious economic growth forecasts.

President Trump's budget proposal for 2020 calls for $8.6 billion in new border wall funding, a signal that the White House is not backing away from its demand that triggered a 35-day government shutdown.

Giving the Pentagon "even more than it hoped for", Trump's budget calls for an $861 billion increase in base military spending over the next ten years. The budget plan will also assume continued robust economic growth in the U.S.

Reuters reported an administration official saying Trump's budget request grants him the ability to "say he fulfilled his commitment".

The spending plan calls for a cut of almost $1.5 trillion in Medicaid over 10 years and for $1.2 trillion to be added for a new "Market Based Health Care Grant" - that is, the block grants that would start in 2021. The State Department will see its spending cut by 23 percent, the Environmental Protection Agency will suffer a 31 percent chop, and food stamps will be cut by $17 billion and other welfare programs by $22 billion. If they fail to come to agreement, the government would enter another partial government shutdown, which would be the third of Trump's presidency.

Later that year, he introduced his budget proposal for FY 2018.

The budget request for more than 300 miles of new border wall would more than double the $8.1 billion potentially available to the president for the wall after Trump declared a national emergency at the border last month.

Republicans have long called for taking steps that shrink - or even eliminate - the deficit, and putting forward a plan that would create $4.3 trillion in new debt over four years could give Democrats fresh targets on the campaign trail.

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The proposal will also include $1 billion for a child-care fund that would seek to improve access to care for underserved populations, a White House official confirmed. "The same thing will repeat itself if he tries this again", said House Speaker Nancy Pelosi of California and Senate Democratic leader Chuck Schumer of NY.

Trump will request the additional $8.6 billion (£6.6 Billion) on Monday. Frankly, that's all a president's budget does - Congress routinely says, "Yeah, thanks", and then promptly ignores every president's budget.

The plan faces certain rejection by Democrats now in control of the U.S. House and will kick off a new political battle over spending priorities.

"Without a renewed commitment to addressing the needs of our interstates, the system will become even more congested, more expensive to fix, and less safe - hindering our economic competitiveness and quality of life", the White House said in the budget documents.

The Republican president's $4.7 trillion (£3.57 trillion) budget was immediately panned by Democrats in Congress, who rejected his push a year ago for wall funding in a standoff that led to a five-week partial shutdown of the federal government. It would also increase military spending by 5 per cent to $USD750 billion, up from $USD716 billion.

In its proposal, the White House is calling for a cut to the overall level of non-defence spending by 5 per cent next year below current federal spending caps, a almost $USD30 billion reduction.

The Democratic-controlled House voted last month by 245-to-182 to nullify Mr Trump's emergency declaration. The budget anticipates growth of 3.2 percent in the coming year, considerably stronger than most outside forecasters, and stronger than the USA achieved in 2018. The same thing will repeat itself if he tries this again. Lawmakers from both parties oppose the emergency declaration, but Congress appears to lack a veto-proof margin to block Trump.

Whilst electioneering Trump repeatedly promised that Mexico would pay for the wall.

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