Published: Thu, May 25, 2017
Worldwide | By Gretchen Simon

Trump Team Stands by Budget's $2 Trillion Math Error


Many rank-and-file Republicans recoiled from the cuts, however, which would squeeze foreign aid and domestic programs funded annually by Congress by about 10 percent next year and $1.4 trillion over the coming decade.

Three in four Democrats trust congressional Democrats to handle the economy compared to 84 percent of Republicans who said they have faith in their party.

"Why? Because that's what the president said when he was campaigning, that he would not change those things", he said.

The proposal projects that this year's deficit will rise to $603 billion, up from the actual deficit of $585 billion last year, But the document says if Trump's initiatives are adopted the deficit will start declining and actually reach a small surplus of $16 billion in 2027. For every dollar that the Trump budget cuts in Medicaid for safety net and rural hospitals, for example, it will fall to states to pay for or begin to close those hospitals.

Mulvaney is the driving force behind the Trump budget plan, winning the president's approval for big cuts to benefit programs whose budgets are essentially on autopilot.

"Apparently, the budget forecasts that USA economic growth will rise to 3.0 percent because of the administration's policies - largely its tax cuts and perhaps also its regulatory policies".

Presidential budget proposals tend to be viewed by committee chairs as more like guidelines than actual dictations for what the government should be spending. Cuts to a popular crop insurance program have already landed with a thud.

-The Disabled: Trump's budget calls for cutting Social Security disability benefits by almost $70 billion over the next decade by encouraging and, in some cases, requiring people receiving the benefits to re-enter the workforce.

Mulvaney said it was "hardhearted" to take money from taxpayers for ineffective programs. "Whatever gains you're getting now you're going to lose".

Bitcoin soars above $2400 to all-time high
The company is testing the Coinbase holdings integration with its employees, Johnson said. "This upgrade is needed because more applications can be built on top of bitcoin and more value can be added to bitcoin", he said.

-New parents: The budget plan includes a new paid-leave program for the parents of newborn children. The new program has been championed by Trump's daughter, Ivanka.

Office of Management and Budget Director Mick Mulvaney on Tuesday rolled out Trump's first budget proposal, touting it as a break from the past.

The Medicaid healthcare plan for the poor is slated for about an $800 billion cut, reversing the expansion that former Democratic President Barack Obama's signature Affordable Care Act, popularly known as Obamacare, brought to Republican states like West Virginia, Arkansas and Kentucky with large populations of poor people.

Some Republican lawmakers welcomed the budget cuts.

Trump's proposed budget would save $191 billion over 10 years by shifting some of the cost to states, targeting the benefits to the poorest people, increasing work requirements and limiting some eligibility.

Other cuts in Trump's budget include reductions in pension benefits for federal workers, in part by requiring employees to make higher contributions.

It's really out of control at the federal level, but what I am saying is, if they cut medicaid funding, then we have to cut at the state level because most of the funding comes from the feds, but I will do everything possible to keep medicaid coverage for the disabled, for single moms and for children.

WASHINGTON (AP) - Trump's budget director insists the administration's spending plans won't cut Medicaid money, but by any conventional measure of federal financing the health care program for families and the poor is clearly on the chopping block.

"It's a unsafe plan that would raise the number of uninsured Americans, take food out of the mouths of hungry children, and drive more families into poverty", Rep. Ruben Gallego, D-Phoenix, said in a statement Tuesday. The Trump administration says this would help move people off the rolls.

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