The president\u2019s proposal lays down the priorities for his re-election campaign but will hurt US public finances.<\/p>\n
Donald Trump released a budget proposal Monday for increased spending on the military and his controversial U.S.-Mexico border wall, while overhauling social safety-net programs, yet it is highly unlikely to become law.<\/p>\n
It will probably, however, live on in his 2020 re-election campaign.<\/p>\n
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The $4.7 trillion plan was immediately attacked by Democrats, who control the House of Representatives and have already blocked Trump\u2019s push for border wall funding in a standoff that led to a five-week government shutdown late last year.<\/p>\n
Trump has asked for $8.6 billion to build a wall on the border with Mexico–more than six times what Congress granted Trump for border projects in each of the past two years, and 6% more than he has put together by invoking emergency powers so far this year.<\/p>\n
It also includes proposals to overhaul Medicare, Medicaid and other costly social programs.<\/p>\n
Yet the budget notably fails to address reducing the federal deficit or the national debt, issues traditionally considered as priorities for the Republicans.<\/p>\n
Tax cuts, rather than deficit reduction, have been the priority for the Republican White House and Congress in the past two years. The deficit ran to $900 billion in 2019 and the national debt has ballooned to $22 trillion.<\/p>\n
Despite the political impossibility of the plan, Acting administration budget chief Russell Vought will defend Trump\u2019s plan before the House Budget Committee on Tuesday.<\/p>\n
\u201cThis budget contains nearly $2.7 trillion in savings, more spending reductions proposed than any administration in history,\u201d Vought told reporters at the White House on Monday. \u201cThis budget will balance in 15 years.\u201d<\/p>\n
Democrats naturally saw it differently.<\/p>\n
\u201cPresident Trump has somehow managed to produce a budget request even more untethered from reality than his past two,\u201d said Democratic U.S. Representative Nita Lowey, chairwoman of the House Appropriations Committee.<\/p>\n
Put simply, the plan, like Trump\u2019s last two budget proposals, is dead on arrival yet will be a useful weapon as he prepares to seek re-election next year, laying out the differences in perspective and priorities between himself and his Democratic opponent.<\/p>\n
The importance of a deal of some sort being made in Congress on government spending are high this year.<\/p>\n
On Oct. 1, a deadline arrives for lifting the federal debt limit. Failure to resolve the issue could risk an economically damaging U.S. default.<\/p>\n
The Committee for a Responsible Budget said Trump\u2019s budget would add $10.5 trillion to the debt over a decade, and criticized the White House for what it called a \u201cfantasy assumption\u201d of 3% economic growth over that timeframe.<\/p>\n
House Budget Committee Chairman John Yarmuth said House Democrats would put out their own budget proposal in April and that he hoped for a deal with the Senate in due course.<\/p>\n
\u201cThe ingredients … are there to make a reasonable deal,\u201d he said, adding that \u201cthe White House is the wild card.\u201d<\/p>\n
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