Trump budget promises balance in decade, relies on deep cuts

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The budget projects that the proposed changes in medical liability law would save HHS programs nearly $32 billion over ten years and the federal government $55 billion. "Deficit spending has become an ingrained part of the culture in the nation's capital", the administration said in its budget for fiscal year 2018, which starts from Oct.1, 2017.

Trump in his budget wants lawmakers to cut $3.6 trillion in government spending for over a decade to balance the budget.

US President Donald Trump's first budget includes draconian cuts of $3.6 trillion over 10 years in social assistance and medical coverage programs for lower-income citizens, moves aimed at eliminating the deficit.

Food stamps: Funding for this program - formally known as the Supplemental Nutrition Assistance Program - drops by $193 billion.

The complete budget was released Tuesday, but an executive summary that was circulated Monday night stated that the proposal "follows through on a campaign promise and prohibits any funding in the Labor-HHS appropriations bill for certain entities that provide abortions, including Planned Parenthood".

"While we appreciate the administration's focus on reducing the debt, when using more realistic assumptions, the president's budget does not add up", Maya MacGuineas, the group's president, said in a statement.

An internal Department of Homeland Security (DHS) plan in February estimated the total cost for the wall at $21.6 billion, but the White House's budget proposal for 2018, released in full on Tuesday, included a request for just $1.6 billion.

"If Congress has a different way to get to that endpoint, God bless them, that's great", said White House budget director Mick Mulvaney, who will defend the plan to lawmakers in hearings set for Wednesday and Thursday.

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Independent economists say the budget relies on unrealistic projections of economic growth, but Ryan sidestepped that question, saying faster growth would "help so many of our problems". This budget proposal assumes that economic growth will not only fill the $5.5 trillion revenue gap created by the administration's proposed tax cuts, but that it will also create an additional $2 trillion in revenue.

The formal budget is at best a blueprint that guides negotiations even when a popular president's own party controls Congress. They will not go back to work if their food stamps are reduced.

-New parents: The budget plan includes a new paid leave program for the parents of newborn children.

Under Trump's infrastructure initiative, new federal funding would ramp up over several years. "It gives a massive tax break to the wealthiest while imposing painful and debilitating burdens on tens of millions of decent and hardworking people".

A plan to eliminate the federal Housing Trust Fund could cut $10 million in affordable housing help that the state received previous year.

President Donald Trump is sticking with a controversial plan to try and carve billions out of the budgets for the NIH and the FDA, looking to slash research spending and force biopharma companies to cough up more cash for drug reviews.

Numerous policy proposals in the Trump administration's budget are cribbed from earlier proposals crafted by Hill Republicans, including the Medicaid cuts that were part of the House GOP health care overhaul. And it reneges on the president's promises not to cut Medicaid or Social Security. There would be three tax brackets - 10 percent, 25 percent and 35 percent - instead of the current seven, and there's a promise to lower the corporate tax rate to 15 percent. That could have something to do with Trump's low approval ratings and the scandal over potential Russian Federation collusion that has beset his young administration. Congress created it in 1975 after the Arab oil embargo caused fears of long-term motor fuel price spikes that would harm the USA economy. "We're not going to measure our success by how much money we spend but by how many people we actually help". "The economic vision outlined in this budget betrays the vast majority of Americans who work hard to support their families, and it's critical that people see once and for all whose side this president is on".

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