Trump presented the US budget for 2020: $ 4.7 trillion – 03/11/2019

US President Donald Trump yesterday released his draft budget for fiscal year 2020 which It proposes cuts of $ 2.7 trillion over the next decade. Sections of up to $ 845 billion in social spending (such as Medicare Medicare coverage for seniors) and in federal government offices related to education and the environment .

At the same time, Trump proposes a sharp increase in military spending, up to $ 750,000 million, up 4.7% from the previous year. And the president is also asking for $ 8,600 million for the construction of his controversial wall on the Mexican border. Of this amount, $ 5,000 would come from the Department of Homeland Security's budget, the remaining 3,600 would be provided by the Pentagon.

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Trump's draft, presented on Monday, March 11 at the congressional offices, is unlikely to be approved because the House of Representatives is controlled by the Democratic Party. Political badysts in Washington point out that Trump's budget (which provides for total spending for $ 4.7 billion and revenues of $ 3.6 billion) is only an indicator of your priorities for the 2020 presidential campaign. Trump wants to be reelected and his project is titled "Budget for Better USA".

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The rejection of democratic legislators is total. Regarding the wall on the Mexican border, the Democratic leaders of both houses (MP Nancy Pelosi and Senator Chuck Summer) said that "Congress refused to finance the wall and that Trump was forced to admit his defeated and damaged eight million people Americans when he closed down the government offices, we hope you learned the lesson. " "This budget is not worth the paper on which it is printed," said Democratic Senator Patrick Leahy, chairman of the influential committee that regulates the government's spending allocations. "Everything is designed for the military-industrial complex, the millionaires and bankers on Wall Street," said Democratic Senator Bernie Sanders.

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The economy grew by 2.9% in 2018 and experts say that there will now be a relapse and that the deficit will increase. With optimism, Trump expects growth of 3.2% in 2019 and 3.1% in 2020. But the Federal Reserve expects GDP growth estimated at 2.3% for 2019 and 2% for 2020. If the Trump project were approved, the public deficit would exceed $ 1 trillion a year over the next three years.. In 2018, the deficit reached a record $ 779 billion. The government's budget office recognizes that, even with Trump's cuts, the balance will not be recovered until 2034. Thus, the traditional ten-year term is out of date. Corporate and bank tax cuts, heavily criticized by opposition economists, have always been a priority for the Republican party presidents and party leaders in Congress. In 2019, the deficit is estimated to exceed $ 900 billion and the public debt to reach $ 22 trillion.

Russell Vought, Acting Director of the Office of Budget and Management of the White House, stressed that the idea of ​​Trump "is to invest in national priorities and reduce spending, so as to give taxpayers the best value for every dollar collected in taxes ". An unwritten rule, traditionally respected in Congress, states that for every dollar spent on military defense, another dollar must be spent in different areas of the federal government, but a Trump official said – asking not to be identified – that 39 with "this budget, we are saying that this practice has ended." In this sense, badysts pointed out that Trump will now use accounts related to emergency operations abroad (OCO , Overseas Emergency Operations), to avoid a 2011 law limiting spending in this area. Among the cuts, 23% less spending is planned in the State Department, the US Chancery. The education sector will spend 10% less. And there will be 31% less for the Environmental Protection Agency.

Source: EFE Agencies, AP