Trump's Budget Proposal Is Based On Some Pretty Optimistic Assumptions


The proposed budget cuts would eliminate the Rural Development Program, which provides zero-interest loans to rural utilities and support to rural businesses.

For Trump, his $4.094 trillion budget proposal for the fiscal year that begins in October marks his first exercise is spelling out - in great detail - how he wants the government to change.

"We're no longer going to measure compassion by the number of programs or the number of people on those programs", White House budget director Mick Mulvaney said.

Meanwhile, former OMB Director Jim Nussle said on CNBC Tuesday that the budget would only push America's economic growth by 1.9%.

"We looked at this budget through the eyes of the people who are actually paying the bills", Mulvaney told reporters Tuesday. "I've got one of the poorest districts in the country, with lots of Medicaid recipients as well as other programs".

The Congressional Budget Office has estimated that the Medicaid cuts the White House is counting on through passage of the health bill would end such benefits for 10 million people, and some Republicans have expressed unease about such changes.

The budget is littered with reductions to services helping the neediest Americans, including the food stamps program ($191 billion cut in the next decade) and the Temporary Assistance for Needy Families ($22 billion cut).

She says the cuts would hurt Oklahomans. He also seeks cuts in food stamps and disability insurance. If you are on disability insurance and you are not supposed to be, you are not truly disabled, we need you to go back to work.

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MULVANEY: We need folks to work. Trying to balance the budget isn't in the plan in Congress, but conservative Republicans are pushing for some action this year on spending cuts. Spending for these programs tends to increase each year under Democrats and Republicans.

The budget also includes other initiatives meant to lure private investors, such as a removal of the $15 billion cap on tax-exempt bonds issued to private builders by the DOT.

Additionally, Wittman called the elimination of the Chesapeake Bay Program "shortsighted and unacceptable" because of the economic and environmental value of the program.

But it also proposes more spending in several areas. But some of Trump's spending proposals are so severe, members of both parties are likely to resist, if only because many of their constituents rely on these programs.

Trump would keep campaign pledges to leave core Medicare and Social Security benefits for the elderly alone, but that would translate into even deeper cuts in programs for the poor such as Medicaid and food stamps.

What is more curious, however, is that the Trump administration is simultaneously planning to increase the Pentagon's budget by about 10 percent. The President's proposed budget would have a harmful effect on that goal - gutting healthcare for millions of working people who need it including many susceptible to the opioid crisis, robbing public schools while making college more expensive, and damaging our ability to respond to natural disasters.

Trump's proposal foresees selling half of the United States emergency oil stockpile, created in 1975 after the Arab oil embargo caused fears of price spikes.

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