With budget, Trump throws opening jab in next funding fight with Congress

Doomed with Democrats Trumps budget boosts Pentagon targets safety net

Doomed with Democrats Trumps budget boosts Pentagon targets safety net

The budget cuts non-defense spending even below the budget caps Congress set for this fiscal year by an average of 5 percent. As IJR previously reported, the annual deficit is projected to hit almost $900 billion in 2019.

The Republican president's budget requested US$20.8 billion (RM85 billion) for the Usda, a cut of US$3.6 billion, or 15 per cent, from the 2019 estimate, according to the proposed budget text.

Still, Trump contended the nation is experiencing "an economic miracle". As a result, the CBO does not expect the deficit to decline during the next decade, and expects that it will reach $1.3 trillion annually by 2029.

Some fiscal watchdogs, though, panned the effort as more piling on of debt by Trump with no course correction in sight.

An AP graphic charts changes to cabinet department and federal agency budgets in President Trump's proposed 2020 fiscal year budget. She warned the debt load will lead to slower income growth and stalled opportunities for Americans.

The House Budget Committee displays copies of President Trump's new budget proposal on Capitol Hill on Monday morning. But fresh off the longest government shutdown in history - and delayed by a month because of it - Trump's 2020 budget shows he is eager to confront Congress again.

If that leads to a bipartisan deal, opportunities may open for Australian savers, such as IFM Investors and Macquarie, which are eager to push superannuation funds into long-term projects in the US.

Trump wanted $5.7 billion but Congress appropriated only $1.375 billion.

The plan sticks to budget caps that both parties have routinely broken in recent years.

But the cuts would not be enough to balance the budget in that timeframe.

Fiscal hawks have characterized OCO as a slush fund or budget gimmick to get around spending caps. At the same time, the administration says it wants to generally abide by a 2011 law that calls for reducing nondefense spending by 9% and defense spending by 11% in 2020, compared to this year's spending.

In each of the last two financial years, the US Congress had only granted roughly one-sixth of Trump's current demand.

The top Democrat on the Appropriation Committee, Sen. They're still saying that, ' he said.

Trump's budget also calls for the extension of the 2017 tax cuts, which are now expected to expire in 2025.




In total, the new budget would reduce spending by $2.7 trillion if it passed Congress.

The Trump administration is looking to decrease the Education Department's funding by $7.1 billion compared to what it was given last year, as part of next year's proposed budget.

Trump's budget will likely face stiff opposition from Democrats, particularly for its focus on border security.

The president's proposal, set for release Monday, also seeks to increase spending for the military but cut back sharply on money for domestic programs in the name of fiscal responsibility.

Other highlighted areas include money to combat the opioid epidemic, higher education reforms, resources for veterans IT modernization within the federal government.

Almost $300 million would go toward Education Innovation and Research (EIR) grants, with new funds going toward professional development stipends that could be used by teachers who qualify. The main cuts are again in the already hard-hit discretionary domestic programs; the savings are a modest $30 billion, which the White House knows Congress won't approve.

President Donald Trump attends a meeting Thursday in the Oval Office at the White House.

It also provides $200 billion toward infrastructure, much lower than the $1 trillion plan Trump once envisioned.

Trump's acting budget chief, Russ Vought, says the administration has "prioritized reining in reckless Washington spending".

"We have a crisis down there", White House adviser Larry Kudlow said on Fox News Sunday.

The president's budget forecasts 3 percent growth every year for the next decade, while most other experts, including the non-partisan Congressional Budget Office, predict growth will be just under 2 percent a year.

House Speaker Nancy Pelosi of California and Senate Minority Leader Chuck Schumer of NY said on Sunday they would block efforts by Trump to get $USD8.6 billion to build his wall. They said the money "would be better spent on rebuilding America".

An additional $9 billion in the military budget is listed under "emergency requirements", which may provide funds to build the border wall that President Trump is showing no signs of dropping as a political football.

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