Trump's $4.7 trillion budget calls for $845 billion cut to Medicare. 'I was the first & only potential GOP candidate to state there will be no cuts to Social Security, Medicare & Medicaid,' Donald J. Trump tweeted in 2015
-- President Donald Trump is seeking one of the largest-ever cuts to domestic discretionary spending in a $4.7 trillion fiscal 2020 budget proposal that also boosts defense spending and adds $8.6 billion for building a border wall.
The top Democrat on the House Appropriations Committee immediately dismissed the administration’s proposal. “President Trump has somehow managed to produce a budget request even more untethered from reality than his past two,” Nita Lowey of New York said in a statement. “The Trump budget has no chance of garnering the necessary bipartisan support to become law.”The document lacks details on individual programs that normally comes as part of the president’s request.
Under current law, the $716 billion defense budget cap would fall to $576 billion in fiscal 2020 and the non-defense cap would fall from $597 billion to $543 billion. Trump is proposing to keep both caps in place while supplying defense with $165 billion in war funds not subject to automatic cuts and another $9 billion in emergency funds. Pentagon officials and lawmakers have long derided using emergency war funds for regular Defense Department operations as a gimmick.
Even with the cuts and an assumption that the economy would grow at an average 3 percent for a decade -- higher than estimates of private economists -- the budget doesn’t balance in 10 years and shows a $202 billion deficit in 2029. The deficit is projected to exceed $1 trillion through 2022. The budget calls for no net tax increases, although some user fees would increase.So far, Democrats say Trump’s heavily partisan proposal risks further damaging an already broken budget process.
“The Trump administration has seemingly been overwhelmed by how difficult it is to balance the federal budget while also lowering taxes, preserving mandatory spending, and increasing military spending,” he said.
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