Trump budget promises balance in decade, relies on deep cuts

Presidents' budgets generally are considered dead on arrival as Congress works to enact its own priorities in the spending process.

It calls on Congress to spend $4.1 trillion next year, a little more than what is being spent this year.

Meanwhile, the funding for national defense will increase by $54 billion in 2018, an approximate $19 billion increase from the Obama administration's 2017 fiscal year request.

While the bipartisan resistance to the budgetary ideas will be huge, the White House's attempt does represent the first bid in a long process to funding the government.

The case against, as Cato Institute health policy scholar Michael Cannon argues, is that the per-capita structure might inadvertently create incentives for states to continue expanding the program in order to increase federal funding.

At the same time, he's calling for drastic cuts to many safety net and other domestic programs that focus on everything from the environment and education to student loans and scientific research.

The proposed cut to CDC "would be perilous for the health of the American people", says John Auerbach, president and CEO of the Trust for America's Health.

The plan drew immediate fire from lobby groups, including from the Committee for a Responsible Federal Budget, which said it relied on "rosy assumptions", gimmicks and unrealistic cuts.

The Trump budget also assumes a $35 billion savings from changes to financial services industry regulations and a repeal of the Dodd-Frank law's orderly liquidation authority, under which financial regulators are empowered to untangle and wind down the biggest banks in a crisis.

The proposed budget plan definitely demonstrates one thing: your president hates poor people. According to Bloomberg's Justin Sink and Erin Wasson, the budget would cut domestic agencies' budgets by 40% in 2027.

The plan would also sell off half of the nation's emergency oil stockpile to raise US$16.5 billion and open up the Alaska National Wildlife Refuge to oil drilling to raise US$1.8 billion.

And there is US$1.6 billion budgeted in the next fiscal year to begin building a wall on the southern border with Mexico.

Federal pensions for government workers would also be decreased, not to mention tax credits provided to lower income individuals.

Popular Video SNL is not a fan of the Trump administration, and it shows with every new skit they produce.

The number of countries receiving direct US economic and development assistance would be reduced by almost 45 percent "in order to focus on those that are most critical to USA national security", according to a report from the Office of Management and Budget.

Trump is also targeting the Medicaid health programme that provides care to the poor and disabled, and nursing home care to millions of older people who could not otherwise afford it.

While the full budget will be released and distributed to Capitol Hill lawmakers on Tuesday, Office of Management and Budget director Mick Mulvaney shone a light on some of the details during a call with reporters on Monday. Over the years, it's been a reliable staple of Republican rhetoric about taxes that lowering the rates would lead to a boom in the economy that would offset the loss in revenue, but economists say the idea is often oversold.

For example, states would be entitled to toughen Medicaid rules on able-bodied Americans who do not have children. The administration would cut the overall National Institutes of Health budget from $31.8 billion to $26 billion. Some $200 billion in federal infrastructure investments are promised to leverage another $800 billion in private investment. On the campaign trail, two of his advisers proposed providing tax credits to private companies to help fix and modernize public infrastructure. Under the program, mothers and fathers could take up to six weeks of paid leave after the birth or adoption of a child.

Balanced budget: I am told Trump's budget will balance over ten years. Nearly 11 million receive Social Security Disability Insurance payments, and 8.3 million receive Supplemental Security Income, a small cash benefit for the poor and those with disabilities.

The Trump administration is asking Congress for $627 billion in new Medicaid cuts over the next decade in a plan that would allow states to restrict access to the program, according to a budget document that was published, apparently mistakenly, online on Monday.