Donald trump has put up huge cuts in the coming fiscal year budget which is going to affect the poor. Programs for health care food stamps to student loans and disability payments are to be stopped. In terms of accounting trumps budget included some areas that we overly conservative.
The budget document has been titled “A New Foundation for American Greatness”, which reflects the promises of Trump during his campaign. The new budget aims at an increase in military spending of 10 percent and spending more than $2.6 billion for border security, which also includes the wall on the border with Mexico and huge tax reductions.
The budget is angled at cut funding to the Agriculture Department by 20.5%, the Labour Department by 19.8% and the State Department and certain other international programs by 29.1%.
The budget makes Mr Trump’s political goals clear. He is safeguarding the older votes by protecting Social Security and Medicare. Social Security and Medicare, together with debt interest, will make up 70 per cent of the growth in federal spending over the next decade. It would require a politically incendiary savaging of other welfare spending, including food stamps and family income benefits, to achieve the overall savings Mr Trump wants.
- The trump budget is going to eliminate the Obama Administration’s TIGER grant program, which saves $5 billion over 10 years. The budget is also cutting down another transit program called New Starts. The administration also proposes to privatize the nation’s air traffic control system, which would boost the budget deficit by about $45 billion over 10 years.
He is aiming at increasing the nations economy in all ways possible. Overall the budget shows that it same as that of trump half mad and half genius.
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