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The coming Budget Battle

  
By:  Vic Eldred  •  4 years ago  •  62 comments


The coming Budget Battle
 

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We the People

Today President Trump will unveil his fiscal year 2021 budget.

This budget will set the President's spending priorities:

Total Budget: $4.8 Trillion

$740.5 Billion in Defense Spending
$590    Billion in Domestic Spending

$2 Billion in new border wall construction

$1.4 Trillion for an extension of the Trump tax cuts over a 10-year period 

A 21% cut to the State Department and foreign aid spending

In addition the President is looking to tackle one of former Speaker Paul Ryan's complaints -  ENTITLEMENT SPENDING:
"non-defense discretionary programs" (a $2 Trillion cut over the next decade) and certain costly "mandatory programs" (another $2 Trillion cut over the next decade).
$130 billion savings from Medicare
$292 billion savings from food stamp and Medicaid programs by enacting new work requirements for beneficiaries
$70 billion savings via a clamp-down on eligibility for federal disability benefits.



Democrats are not expected to take kindly to the proposals (many have expressed their displeasure) and will have their own counter plan.

Key administration officials will be explaining the details for much of the week.


Meanwhile in the US Senate, 5  more Judicial nominations will proceed to a vote.


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Vic Eldred
Professor Principal
1  author  Vic Eldred    4 years ago

There is always a price to pay to get the job done.


Rules of civility apply

 
 
 
igknorantzrulz
PhD Quiet
2  igknorantzrulz    4 years ago

wasn't Trumpp to have wiped out our Federal Deficit by now...

instead of adding an extra Trill, or has Trump confused me yet again ?

Tax cuts benefitting corporations who were already doing fine, as he wants to cut food stamps, medicaid, and medicare.

i have NO PROBLEM with work requirements, but bleeding the poor while enriching, yet again, the richest, has only further eroded Americas' middle class and is just stupid.

what is it, 400 + individuals posses as much wealth as the remaining US populace ?

as we can afford 740 + Billion to police the world....yea, sounds reasonable, if

your a defense contractor, are a shareholder in some thieving big corp., or, are just happy seeing so  much , go to so few, at the top .

trickle down your leg economics does not work, no matter how many times the gop lies to you about it, but you nguys should be used to that by now.

 
 
 
Vic Eldred
Professor Principal
2.1  author  Vic Eldred  replied to  igknorantzrulz @2    4 years ago
wasn't Trumpp to have wiped out our Federal Deficit by now...

Trump is a fiscal Conservative?  Since when?


i have NO PROBLEM with work requirements

Nice to hear

 
 
 
Tacos!
Professor Guide
5  Tacos!    4 years ago

It would be great if we could just throw money at everything everyone wanted, but we can't. It seems like it's always hardest to cut spending, but there are many things we managed to do without for a long time. Once the government starts spending on them though, they become "critical" or "indispensable" in the minds of politicians - and maybe in some of their supporters.

The worst part of these annual conversations - to me - is that obviously some thought goes into what to cut, but opposition politicians reflexively attack, declaring you must hate [X] if you want to cut [insert favorite spending item]. The debates need to be more thoughtful than that.

 
 
 
Vic Eldred
Professor Principal
6  author  Vic Eldred    4 years ago

 
 

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