Trump Rolls Out 2020 Budget Proposal with Potentially Largest Spending Cuts in US History

Conservative Tribune | 3/11/2019 | Ben Marquis
Kota79Kota79 (Posted by) Level 4
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There is little question that the federal government — in truly bipartisan fashion — spends way too much money on way too many things, far in excess of the annual revenue derived from taxpayers, which requires borrowing and deficit spending that has sent the national debt soaring to the astronomical height of more than $22 trillion.

With that in mind, President Donald Trump’s White House just rolled out the administration’s proposed 2020 budget, and it includes some rather significant spending cuts in certain areas of the bloated federal government, while outlining the administration’s top priorities and suggesting increased spending in certain defense-related areas.

Hill - Takeaway - Trump - Budget - Percent

The Hill reported that the biggest takeaway from Trump’s proposed 2020 budget is an average 5 percent reduction in spending across the board, which would cut spending by roughly $2.7 trillion over a decade and, in concert with continued economic policies and optimistic growth predictions, theoretically balance the budget within 15 years.

According to The Hill, “acting White House budget chief Russ Vought said the cuts amounted to … the largest proposed budget cut in the nation’s history.”

White - House - Reductions - Sorts - Spending

However, while the White House has proposed massive reductions to all sorts of non-defense discretionary spending — down to $567 billion from the current level of $597 — it has called for yet another increase to defense spending — up from $715 billion to $750 billion — as well as additional funding for the Department of Homeland Security and border security, including $8.6 billion in funds for border wall construction.

The Hill noted that, at least when it came to non-defense discretionary spending, the White House budget adhered to the caps set by the 2011 Budget Control Act, commonly referred to as the sequester, which had set limits on both defense and non-defense spending, though those limits have been increased by Congress several times...
(Excerpt) Read more at: Conservative Tribune
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