Trump budget won’t eliminate deficit: report
President Trump’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 Mulvaney (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.
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 Paul (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 Meadows (R-N.C.) on Sunday said Republican leadership “caved” in the recent budget deal, adding “the swamp won and the American taxpayer lost.”
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