Political Wrinkles  

Go Back   Political Wrinkles > General Forum > News & Current Events
Register FAQDonate PW Store PW Trivia Members List Calendar Search Today's Posts Mark Forums Read

News & Current Events Discuss Trump's 2020 budget calls for $2.7T in spending cuts to erase deficit in 15 years at the General Forum; This is what I was hoping for after seeing the tax reform measures that didn't address the deficit. President Trump ...

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 03-11-2019, 11:02 AM
Lumara's Avatar
Belly Dance Queen
 
Join Date: Apr 2015
Location: Great Smoky Mountains
Gender: Female
Posts: 2,677
Thanks: 3,678
Thanked 3,240 Times in 1,609 Posts
Thumbs up Trump's 2020 budget calls for $2.7T in spending cuts to erase deficit in 15 years

This is what I was hoping for after seeing the tax reform measures that didn't address the deficit.

Quote:
President Trump will unveil his fiscal 2020 budget request to Congress on Monday which calls for $2.7 trillion in spending cuts and balances in 15 years, according to the White House budget office.

The budget from the White House is the first the president will send to a divided Congress, and the proposal is likely to face fierce opposition from the new Democrat-controlled House. But Trump’s spending plan highlights a number of his priorities, including strengthening border security to address the situation at the U.S.-Mexico border, and tackling the opioid crisis.

“In the last two, President Trump and this administration have prioritized reining in reckless Washington spending,” acting Office of Management and Budget Director Russ Vought said in a statement. “The budget that we have presented to Congress and the American people, ‘A Budget for a Better America,’ embodies fiscal responsibility, and takes aim at Washington’s waste, fraud, and abuse.”

he 2020 budget, Vought added, “will balance in 15 years, end runaway spending, and secure prosperity for future generations.”

Since Trump took office, the national debt has risen more than $2 trillion and currently stands at more than $22 trillion, a record high. But the president’s budget takes aim at government spending by calling for a 5 percent reduction in nondefense discretionary spending that will keep the budget under statutory spending caps. With the proposals included in the request for Congress, projections indicate the budget would be balanced by 2034, according to the Office of Management and Budget. https://www.washingtonexaminer.com/n...it-in-15-years
Unfortunately, this article doesn't say exactly what will be cut, but says the details will be given to Congress sometime today.
__________________
"The MAGA hat is not a symbol of hate; it actually exposes the symbols of hate." - Candace Owens
Reply With Quote
  #2 (permalink)  
Old 03-11-2019, 11:12 AM
WallyWager's Avatar
Moderator
 
Join Date: Jan 2011
Location: Michigan
Gender: Male
Posts: 11,873
Thanks: 1,576
Thanked 9,028 Times in 5,772 Posts
Default Re: Trump's 2020 budget calls for $2.7T in spending cuts to erase deficit in 15 years

Unfortunately seeing as how the budget proposal actually increases overall spending to $4.75 trillion this coming fiscal year, I don't see how this plan realistically will bring down federal deficits, much less balance revenues and expenditures in fifteen years.
__________________
"I've known Jeff for 15 years. Terrific guy. He's a lot of fun to be with. It is even said that he likes beautiful women as much as I do, and many of them are on the younger side." - Donald Trump, on pedophile Jeff Epstein.
Reply With Quote
  #3 (permalink)  
Old 03-11-2019, 11:18 AM
lurch907's Avatar
Scholar
 
Join Date: Apr 2010
Location: Alaska, the greatest place on earth.
Gender: Male
Posts: 4,812
Thanks: 1,050
Thanked 3,325 Times in 1,859 Posts
Default Re: Trump's 2020 budget calls for $2.7T in spending cuts to erase deficit in 15 years

Quote:
Originally Posted by WallyWager View Post
Unfortunately seeing as how the budget proposal actually increases overall spending to $4.75 trillion this coming fiscal year, I don't see how this plan realistically will bring down federal deficits, much less balance revenues and expenditures in fifteen years.
Source?
Reply With Quote
  #4 (permalink)  
Old 03-11-2019, 11:33 AM
WallyWager's Avatar
Moderator
 
Join Date: Jan 2011
Location: Michigan
Gender: Male
Posts: 11,873
Thanks: 1,576
Thanked 9,028 Times in 5,772 Posts
Default Re: Trump's 2020 budget calls for $2.7T in spending cuts to erase deficit in 15 years

Quote:
Originally Posted by lurch907 View Post
Source?
Trump Proposes a Record $4.75 Trillion Budget

Increasing spending and keeping the new tax cuts do not make for a deficit-reducing formula.
__________________
"I've known Jeff for 15 years. Terrific guy. He's a lot of fun to be with. It is even said that he likes beautiful women as much as I do, and many of them are on the younger side." - Donald Trump, on pedophile Jeff Epstein.
Reply With Quote
  #5 (permalink)  
Old 03-11-2019, 12:21 PM
cnredd's Avatar
Administrator
 
Join Date: Oct 2007
Location: Philadelphia
Gender: Male
Posts: 54,894
Thanks: 2,203
Thanked 35,013 Times in 20,127 Posts
Default Re: Trump's 2020 budget calls for $2.7T in spending cuts to erase deficit in 15 years

Quote:
Originally Posted by WallyWager View Post
Trump Proposes a Record $4.75 Trillion Budget

Increasing spending and keeping the new tax cuts do not make for a deficit-reducing formula.
Maybe...

According to your source, there are two things I see that "may" end up making thing neutral (if not outright savings)...

1) He's front loading the military with a request for a 5% increase...This won't be a yearly request...I imagine this would be for a couple of years to get our military up to snuff, then drop to minimal increases (or even none?)...

2) Looks like some changes to programs will net a decrease in government spending...

Quote:
It also proposes new work requirements for working-age adult recipients of supplemental nutrition assistance, federal housing support and Medicaid, a move the administration said would reduce spending on those programs by $327 billion.
Once plans like these are implemented, there'd be no need for future budgets to include them...

Will it work?....Who the heck knows?...

...But as Lumara said earlier in the thread, I'm happy this is, at least, being addressed instead of the "We'll get to it later" crap we've been hearing for years...
__________________
"You get the respect that you give" - cnredd
Reply With Quote
The Following 2 Users Say Thank You to cnredd For This Useful Post:
Reply

Tags
$27t, 2020, budget, calls, cuts, deficit, erase, for, spending, trump, years

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Forum Jump


All times are GMT -5. The time now is 09:46 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2019, vBulletin Solutions, Inc.

Content Relevant URLs by vBSEO 3.2.0