All that projected growth and extra tax revenue aren't happening. So we have this to help reduce the ever-increasing deficit.
As with his previous budget proposals, Trump is once again seeking deep and unrealistic cuts to most federal agency budgets, according to the budget summary tables. The cuts are unlikely to be embraced by Congress.
For example, the administration is seeking an 8 percent cut to USDA’s budget over current funding levels. Trump’s plan would cut the Commerce Department by 37 percent, the Education Department by 8 percent, the Energy Department by 8 percent, the Department of Housing and Urban Development by 15 percent, and the Department of Health and Human Services by 9 percent.
The administration is also seeking a 13 percent cut to the Interior Department, a 2 percent cut to the Justice Department, an 11 percent cut to the Labor Department, a nearly 21 percent cut to the State Department and a 13 percent cut to the Department of Transportation. The EPA’s budget would see a nearly 27 percent chop, the Army Corps of Engineers would see a 22 percent reduction and the Small Business Administration would see an 11 percent decrease.
Vice President Mike Pence defended deficit expansion under the Trump administration during a CNBC interview Friday, saying that debt and deficits are secondary concerns compared to economic growth.
Pence, who spoke to CNBC’s Wilfred Frost at the White House on the heels of President Donald Trump’s victory lap over his acquittal in the Senate’s impeachment trial, maintained that focusing on growth will solve long-term fiscal challenges.
“The president came into office and he said, ‘First and foremost, we have to restore growth,’” Pence said.
“Deficits and debt are right in line, but it is first about getting this economy moving again and we really do believe the trajectory of this economy,” Pence said.
Asked about the debt-to-GDP ratio — which has grown from Obama’s tenure in the White House to Trump’s — Pence said Friday that “in a second term, we’ll continue to address those issues.”
But Trump’s belief, Pence added, is that “the real long-term solution to the fiscal challenges in Washington, D.C., is making sure the budget of every American is growing.”
“Once we get this economy rolling,” he added, “we’re going to work real hard, not just to get President Donald Trump four more years in the White House, but we’re going to make sure we have a Republican Senate and a Republican House to keep America growing and to deal with those long-term fiscal challenges.”
The economy is already rolling, according to the president’s own assessments. Trump has often called the economy under his watch the greatest in American history.
“I am thrilled to report to you tonight that our economy is the best it has ever been,” the president said in his State of the Union address Tuesday night.
-------------------------------- Keep calm and don't forget to be awesome.
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