President Donald Trump will propose cutting entitlement programs by $1.7 trillion, including Medicare, in a fiscal 2019 budget that seeks billions of dollars to build a border wall, improve veterans’ health care and fighting opioid abuse and that is likely to be all but ignored by Congress.
The entitlement cuts over a decade are included in a White House summary of the budget obtained by Bloomberg News. The document says that the budget will propose cutting spending on Medicare, the health program for the elderly and disabled, by $237 billion but doesn’t specify other mandatory programs that would face reductions, different categories that also includes Social Security, Medicaid, food stamps, welfare and agricultural subsidies.
The Medicare cut wouldn’t affect the program’s coverage or benefits, according to the document. The budget will also call for annual 2 percent cuts to non-defense domestic spending beginning” after 2019.’
At a hour when future prospects of rising annual budget shortfalls has frightened financial markets, the White House said in a statement — without rationale — that its plan would cut the federal deficit by$ 3 trillion over 10 times and reduce debt as percentage points of gross domestic product. Yet, in a breach from a longstanding Republican goal, the scheme won’t balance the budget in 10 years, according to person or persons very well known the proposal.
The budget, to be released later on Monday, is unlikely to gain traction on Capitol hill. Lawmakers routinely dismiss the spending petitions necessitated annually from the executive branch. And Congress passed its own spending bill on Friday, including a two-year budget deal, which the president signed into law.
According to the summing-up, Trump will advise an increase in defense spending to $716 billion and a 2.6 percent pay raise for troops. He will request $18 billion to build a wall on the Mexican border, the summary indicates.
The White House also tries $200 billion for the infrastructure proposal the administration plans to unveil alongside the coming fiscal year 2019 budget, as well as new regulatory cuts.
” This will be a big week for Infrastructure ,” Trump said in a Twitter message Monday.” After so stupidly expending$ 7 trillion in the Countries of the middle east, it is now time to start investing in OUR Country !”
Monday’s document will outline proposed spending reforms the concerned authorities says would, if legislated, cut deficiencies over the next decade — even as recently passed tax legislation and spending caps threaten to drive future annual deficiencies above$ 1 trillion.
” Just like every American family, the budget attains hard selections: fund what is necessary, cut where we can, and reduce what we borrow ,” Office of Management and Budget Director Mick Mulvaney said in a statement.” It’s with respect for the hard work of the American people that we expend their tax dollars efficiently, effectively, and with accountability .”
A year ago, Trump asked lawmakers to cut $3.6 trillion in federal spending over the next ten years, and identified deep cuts to domestic spending programs. Instead, lawmakers last week passed a two-year government fund deal that would boost military members and non-defense spending by $300 billion over the next two years and add more than $80 billion in disaster relief.
But administration officials argue its own proposal, dead on arrival though they may be, is still an important marker of the president’s legislative priorities.
The plan includes a heavy emphasis on immigration enforcement. Trump is requesting $782 million to hire 2,750 new border and immigration policemen, and $2.7 billion to imprison people in the country illegally. Trump is also asking for $18 billion over the next 2 coming fiscal year toward the goal of constructing a wall on the U.S. perimeter with Mexico. That’s a key point of contention in the ongoing legislative battle over the destiny of young people, known as “Dreamers,” who were brought to the country illegally as children.