Obama's Last Budget & Trump/GOP Budget

[kpete]

The main purpose of the budget request is to formally lay out the administration’s stance on fiscal policy. It details specific policy changes the administration wants, how much those changes will affect spending and tax revenue over the next 10 years, and how individual agencies will be affected along the way.

For example, President Obama's last budget called for $312 billion in new infrastructure spending, $150 billion for universal pre-K and child care, and $60 billion to expand access to community colleges, paid for (and then some) by cuts in prescription drug spending, a cap on the value of tax deductions, new taxes on investment income, and more. The budget gave relatively precise estimates for how much each of these proposals was expected to cost or raise, respectively, and estimates of how this would affect the overall trajectory of the deficit (down) and spending and revenue levels (both up).
http://www.vox.com/2017/2/27/14751872/budget-process-explained

WASHINGTON — President Trump has signed off on top-line numbers in a budget outline that seeks to make good on his campaign promises to bolster military spending while making deep cuts to other federal agencies, including the Environmental Protection Agency.

"This budget will be a public safety and national security budget, very much based on those two with plenty of other things but very strong," Trump said Monday. "And it will include a historic increase in defense spending to rebuild the depleted military of the United States of America at a time we most need it."

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http://www.vox.com/2017/2/27/14751872/budget-process-explained