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President Trump unveiled a budget Monday that seeks $3 trillion in cuts over the next decade.
What a difference a week makes.
President - Bill - Increases - Spending - Increases
The president signed a bill authorizing increases in domestic spending to secure larger increases in defense spending last week. This followed a State of the Union address petitioning Congress for various spending hikes, including $200 billion in federal funds for a $1.5 trillion infrastructure plan. This week, he targets 12 departments for cuts.
The Departments of Agriculture (-16 percent), Commerce (-6 percent), Education (-10.5 percent), Energy (-3 percent), Health and Human Services (-21 percent), Housing and Urban Development (-18.3 percent), Interior (-16 percent), Justice (-1.2 percent), Labor (-21 percent), State (-26 percent), Transportation (-19 percent), and Treasury (-3 percent) all endure cuts. Defense (+13 percent), Homeland Security (+8 percent), and Veterans Affairs (+11.3 percent) receive increases under the plan.
Realities - Budget
Several harsh realities make slashing the federal budget necessary.
The government now spends more than $1.1 trillion on healthcare. This cost, which once accounted for a minuscule portion of the budget, now represents a piece of the federal pie larger than defense, Social Security, or any other slice. Healthcare expenses increase not necessarily with that federal pie but instead drives its growth. More significantly, the pricetag to taxpayers grows with the skyrocketing costs of healthcare in the surrounding society. The Office of the Actuary at the Centers for Medicare and Medicaid Services estimates that the healthcare bill for Americans reaches $5.6 trillion in seven years. That represents in excess of a fifth of the gross domestic product. If Americans pay more for healthcare, one can assume the American government pays more for healthcare.
Course - Deficits
This, of course, catalyzes massive deficits.
Our obligations eclipse our economy. The national debt fast approaches...
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