Trump plans to cut funding for most government agencies
Source: Yahoo Finance
President Donald Trump is preparing a security budget that will ramp up spending for the Pentagon while slashing funding for most other federal agencies.
Trump plans to increase defense spending by $54 billion per year, which would be a 10% increase. Hed cut funding for most other agencies by $54 billion to keep his overall budget from adding to the national debt. Most federal programs will see a reduction, an official with the Office of Management and Budget (OMB) told reporters on Monday.
Trump has made no secret of his desire to scale back regulatory agencies, especially the Environmental Protection Agency (EPA). But such agencies tend to have modest budgets compared with the cost of military troops and hardware. The EPAs entire budget is around $8 billion, for instance. Thats only two-thirds the cost of a single Nimitz-class aircraft carrier, which comes with a price tag of about $13 billion.
Defense accounts for about 16% of federal spending, but much of the rest goes toward entitlement spending. Social Security accounts for 24% of the federal budget; Medicare, 15%. Trump has pledged not to cut either of those popular programs, even though their costs are growing. Medicaid, the health care program for the poor, accounts for 9% of spending, and Trump does favor changes in the way those funds get spent, which could lead to cutbacks there. Interest payments account for another 6% of spending, which Trump cant cut. All told, with defense, Social Security, Medicare and interest expenses exempt, Trump would have to find $54 billion in cuts from less than 40% of the budget.
Read more: https://finance.yahoo.com/news/trump-plans-to-cut-funding-for-most-government-agencies-160756646.html
That's OK. Let him cut entitlement programs that his supporters depend on, that they see as their birthright
Bengus81
(6,927 posts)Let me guess.....NONE.
question everything
(47,425 posts)back to purchase American products including military equipment. I suppose one can consider this as part of the military budget.
TeamPooka
(24,204 posts)Matthew28
(1,796 posts)Our military is the most corrupt of all departments and 54 billions won't improve it, but a lot of people and good programs will be hurt. This is sad.
DavidDvorkin
(19,465 posts)Just wait till the folks back home start learning the details of what this means for them.
Sparky 1
(400 posts)DavidDvorkin
(19,465 posts)The hardcore ones who revere him and won't learn a thing, and the majority of not-very-committed voters who switched to him this time. It's the latter group I'm hopeful about.
Sparky 1
(400 posts)DavidDvorkin
(19,465 posts)FreeStateDemocrat
(2,654 posts)A complete waste of our future when the money could have been used for infra-structure repair with the entailing creation of numerous jobs.
Ass-wipe is a fucking lunatic and it will play out with Social Security, Medicare and Medicaid taking the hit when the puke Congress creates the budget bill that will then be signed into law.
Ass-wipe will then blame the cuts on Congress and say they left him no choice but sign the bill because he has to protect America.
Midnight Writer
(21,693 posts)defacto7
(13,485 posts)Trump wants "the" people as weak as possible and "his" military as strong as possible. Think about it. This is the path to pure dictatorship.
Kimchijeon
(1,606 posts)Akoto
(4,266 posts)You know, it really sucks to always be afraid of what's going to happen to you.
question everything
(47,425 posts)you should approach him or her and express these fears. They need to hear from their constituents
Mc Mike
(9,111 posts)wants a strong defense. Wants this shell of super powerful protection to surround the US. While inside that shell is a smoking ruin of destroyed land, air, water, with broke, sick, and dead American citizens amongst the ruins.
Erasing the repug party would absolutely be the best National Security move America could ever make.
flamingdem
(39,308 posts)who will lose their subsidies