Trump budget calls for return to 'fiscal sanity'

April FrancisMar 12, 2019

President Donald Trump wants $8.6 billion more for a border wall, an across-the-board, 5 percent cut in domestic spending, more money for defense and funding for a pet program of his daughter Ivanka.

At the beginning of the Trump presidency in 2017, his Office of Management and Budget (OMB) immediately introduced a budget to cut spending for the remainder of FY 2017.

White House economic advisor Larry Kudlow said Sunday "there's no reason to obsess" about the budget deficit, as long as it remains below 5 percent of the overall economy.

"We are going to confront the national-security crisis on our southern border", he said, announcing the declaration from the White House Rose Garden on February 15.

While the president's budget is unlikely to be implemented, the document does carry some weight as a signal of Trump's desires, including money to expand barriers along the USA border with Mexico.

"President Trump hurt millions of Americans and caused widespread chaos when he recklessly shut down the government to try to get his expensive and ineffective wall", she said, in a joint statement with Sen.

"The same thing will repeat itself if he tries this again", they warned.

United States and Russian officials also continue to meet at the expert level, she said.

Vought claimed in advance of the release that the budget "embodies fiscal responsibility, and takes aim at Washington's waste, fraud, and abuse" by shaving $2.7 trillion, or five percent, off the previous fiscal year's nondefense, discretionary spending. The deficit ran to $900 billion in 2019, and the national debt has ballooned to $22 trillion.

The Latest on President Donald Trump's budget proposal for the 2020 budget.

The administration is also asking Congress for $USD40 billion to fund the State Department's work on worldwide diplomacy and aid in fiscal 2020, a slight increase from last year's request but nowhere close to addressing deep cuts made in 2017. Numerous lawsuits are also challenging Trump's emergency declaration.

Still, according to Trump's budget, the spending cuts would do little to reduce what is shaping up to be a colossal deficit in the next several years.

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She noted that Russian Federation and the United States still have two years to decide whether to extend the treaty, adding that Washington would make its final decisions based on what would best uphold the safety and security of the American people.

Top House Democrats were quick to declare the president's request - which will also demand $8.6 billion in border wall funding - dead on arrival.

The plan sticks to budget caps that both parties have routinely broken in recent years and promises to come into balance in 15 years, relying in part on economic growth that may be uncertain.

During his 2016 presidential campaign, Trump rallies frequently featured his supporters screaming "build the wall". He first promised Mexico would pay for it, but Mexico has refused to do so.

Since becoming president, Trump has changed his description of how the wall would be financed, at first saying Mexico would eventually pay the U.S. government back, and later scrapping any mention of Mexico sending money to the United States.

In an interview with the Fox News Sunday show, Kudlow said, "It will be a tough budget".

He stressed the final version of the deal will go to President Trump who will decide whether it's good enough for the USA, and said he expects the upcoming trade deal to be "positive and bullish". "I think it's exactly the right prescription", he said. They said the money "would be better spent on rebuilding America".

Separately, Kudlow expressed optimism that USA economic growth will surpass three percent "in 2019 and beyond".

But the Democratic-controlled House approved a resolution blocking the declaration.

The White House's new budget plan would also cut another $327 billion from a range of other welfare programs, including those that provide food and housing assistance, in part by imposing mandatory work requirements for certain recipients. "Our policies are strong and I think the growth rate this coming year will exceed these estimates just as they have last year". The budget request seeks $6.1 billion for the EPA, down 31 percent from current spending.

The budget proposal calls for a 23 per cent decrease for the State Department and the U.S. Agency for International Development (USAID).

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