Trump $4.8 trillion budget proposal: hits Medicaid farms food stamps ed. loans, still $1T in the red

essentialsaltes

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President Donald Trump is offering a $4.8 trillion election-year budget plan that recycles previously rejected cuts to domestic programs to promise a balanced budget in 15 years — all while boosting the military and leaving Social Security and Medicare benefits untouched.

Fortunately, this proposal is a fantasy for a couple reasons. #1 Balancing the budget in 15 years relies on an optimistic projection of future growth over those 15 years that is faster than we have achieved recently. #2 Congress actually has the power to pass budgets, so at best this is just a wish list of sorts for the president.

Unfortunately, very few people in Congress on either side of the aisle are committed to balancing the budget, so in this election year, we can expect any actual budget to be just as irresponsible as this proposal.
 

Aryeh Jay

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It is truly mind boggling how badly Obama's reckless spending destroyed out once great country and economy in just eight years. It is a good thing the American people saw through this travesty and elected the one who can make a dent in this insurmountable problem.
 
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essentialsaltes

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Everyone knew Trump's promises to eliminate the total debt in 5 years was flim flam. His promises to eliminate the deficit during his term were also absurd. But what we've gotten is exploding deficits. His current promise to have a balanced budget in 15 years would require a miracle that not even Trump economists buy.

via @jasonfurman

16 Members of the FOMC (including 4 Trump appointees) released forecasts in Dec. The latest administration forecast is way above the top of their range.

 
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HTacianas

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President Donald Trump is offering a $4.8 trillion election-year budget plan that recycles previously rejected cuts to domestic programs to promise a balanced budget in 15 years — all while boosting the military and leaving Social Security and Medicare benefits untouched.

Fortunately, this proposal is a fantasy for a couple reasons. #1 Balancing the budget in 15 years relies on an optimistic projection of future growth over those 15 years that is faster than we have achieved recently. #2 Congress actually has the power to pass budgets, so at best this is just a wish list of sorts for the president.

Unfortunately, very few people in Congress on either side of the aisle are committed to balancing the budget, so in this election year, we can expect any actual budget to be just as irresponsible as this proposal.

That's the primary reason I support a constitutional convention of the States. Someone has to reign in the Federal government.
 
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cow451

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It is truly mind boggling how badly Obama's reckless spending destroyed out once great country and economy in just eight years. It is a good thing the American people saw through this travesty and elected the one who can make a dent in this insurmountable problem.
This just in.... The United States has filed Chapter 13 Bankruptcy papers.

In other financial news, Russian Oligarchs have formed an LLC and have put in a bid for Alaska. Former Governor Sarah Palin has been named Communications Director of UBetcha-Russia Holdings.
 
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Aryeh Jay

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Just imagine the great things that Trump would have been able to do if he didn’t constantly have to defend himself from unfounded lies, attacks, coups, and threats of impeachment. If the Democrats cared for this country, they would have allowed Trump to be the President unmolested like the Republicans allowed for Obama. I guess that doesn’t fit with the Pelosi Playbook and their agenda.
 
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Rubiks

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This just in.... The United States has filed Chapter 13 Bankruptcy papers.

In other financial news, Russian Oligarchs have formed an LLC and have put in a bid for Alaska. Former Governor Sarah Palin has been named Communications Director of UBetcha-Russia Holdings.

How does a country declaring bankruptcy even work? Wouldn't China be like: "Yeah, nice try bro, we still want our money back." ?
 
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Rubiks

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Just imagine the great things that Trump would have been able to do if he didn’t constantly have to defend himself from unfounded lies, attacks, coups, and threats of impeachment. If the Democrats cared for this country, they would have allowed Trump to be the President unmolested like the Republicans allowed for Obama. I guess that doesn’t fit with the Pelosi Playbook and their agenda.

I didn't know today was opposite day.
 
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mark46

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Cut the defense budget. It's why we can't have nice things.
I'm sure that you understand that if we cut the Defense budget, as we will, that will not necessarily mean that the president or the Senate would approve more "nice things" like drug treatment centers, and access to medical care.
 
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seeking.IAM

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I'm sure that you understand that if we cut the Defense budget, as we will, that will not necessarily mean that the president or the Senate would approve more "nice things" like drug treatment centers, and access to medical care.

I do understand that. I think it should come down to a few basic questions:
  1. What do you value?
  2. What do you want to invest in?
  3. What do our Christian values direct us to do (and does anybody inside the beltway really care about Christian values other than to garner votes?)
  4. How much of our defense budget is spent to defend us and how much is spent to defend others?
  5. Does our defense budget best serve the American people or the profit margins of the major corporations of the military-industrial complex?
 
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