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Trump budget won't eliminate deficit: report

Trump budget won't eliminate deficit: report
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President TrumpDonald John TrumpTrump: 'I don't trust everybody in the White House' JPMorgan CEO withdraws from Saudi conference Trump defends family separations at border MORE's budget will not wipe out the deficit, conceding that the tax-cut bill and new spending make that possibility unlikely, according to a new report in The Washington Post.

It's a significant departure for Trump and Republicans in Congress, who have passed balanced budgets in the past. Trump's new budget does propose cuts that would reduce the deficit by $3 trillion over a decade but stops short of balancing, say sources who spoke to the Post.

The proposal follows a budget deal for the next two years approved by the House and Senate that would add $300 billion in new spending.

A majority of Republicans backed the deal, but it was harshly criticized by many fiscal conservatives. Trump's own budget director, former Rep. Mick MulvaneyJohn (Mick) Michael MulvaneyTrump attacks Democrat in Ohio governor's race On The Money: Stocks slide for second day as Trump blames 'loco' Fed | Mulvaney calls for unity at consumer bureau | Pelosi says Dems will go after Trump tax returns Mulvaney calls for unity at consumer bureau amid racial controversy MORE (S.C.), said that if he were still a member of Congress he would have voted against it.

Trump’s budget request is set for release Monday and will include $23 billion for border security and enforcement, as well as nearly $17 billion to address the opioid epidemic.

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In addition to programs included in the budget, Congress voted last week to approve an increase of roughly $300 billion in spending caps for fiscal 2018 and 2019.

Mulvaney, in an appearance on "Fox News Sunday" with Chris Wallace, also said the administration could “have a chance to change this [debt] trajectory.”

Some Republican lawmakers have been critical of spending since Trump took office.

Sen. Rand PaulRandal (Rand) Howard PaulNoisy democracy, or rude people behaving like children? Lawmakers, Wall Street shrug off Trump's escalating Fed attacks Five things to watch for in deteriorating US-Saudi relations MORE (R-Ky.), who delayed a vote to keep the government open by railing against government spending, noted spending has not lessened since former President Obama left office. 

Rep. Mark MeadowsMark Randall MeadowsFusion GPS co-founder will invoke 'constitutional rights not to testify': lawyers House panels postpone meeting with Rosenstein This week: Rosenstein set to meet with House GOP MORE (R-N.C.) on Sunday said Republican leadership “caved” in the recent budget deal, adding “the swamp won and the American taxpayer lost.”