Trump Budget Could Add Almost $1 Trillion To Federal Deficit In One Year

Donald Trump

Completely turning "conservatism" on its head, President Trump has submitted a budget to Congress which would add $984 billion to the federal deficit next year and would increase the federal deficit over the next 10 years by $7 trillion.

From The New York Times:

President Trump on Monday sent Congress a $4.4 trillion budget with steep cuts in domestic programs and entitlements, including Medicare, and large increases for the military, envisioning deficits totaling at least $7.1 trillion over the next decade.

The blueprint, which has little to no chance of being enacted as written, amounts to a vision statement by Mr. Trump, whose plan discards longtime Republican orthodoxy about balancing the budget, instead embracing last year’s $1.5 trillion tax cut and new spending on a major infrastructure initiative.

According to Bloomberg reporter Laura Litvan, Trump's budget includes these nuggets:

• 27% cut to State Department
• 34% cut to Environmental Protection Agency
• 14% increase for Pentagon
• $18 billion over 2 years for the Trump wall
• Entitlement cuts of $1.7 trillion over the next decade including $237 billion from Medicare

Trump declared himself the "King of Debt" during the 2016 campaign, and that's just what he's delivering.

Of course, the president's budget is merely a blueprint. There's no way this will get passed "as-is."

Trump will sign anything the GOP-led Congress sends him. He just wants points on the board.

House Barely Passes $1.1 Trillion Spending Bill By Vote Of 219-206

The House approved a $1.1 trillion spending bill that keeps the government open through September by a vote of 219-206.


The Senate agreed to a two-day extension of current funding levels to give itself time to approve the House bill. After a tumultuous day, the House passed the spending bill in a 219-206 vote.

The Senate will likely vote on the House bill on Friday and President Barack Obama is expected to sign it into law once it passes the Senate.

The bill will keep the government running through the end of September, except the Department of Homeland Security which will only be funded through February- a detail designed to give the new Republican majority a chance to defund President Obama's plans for immigration reform via executive order.

Mitt Romney's budget proposal vs. Solyndra

Mitt Romney gave a performance today in front of the Solyndra offices trying to make a point about government spending and debt ($535 million given to Solyndra for development and research). 

Meanwhile, he ignores the fact that his own budget proposal would cost over $10 trillion.  The graphic above shows how those two amounts relate to each other.

Things that make you go "hmm...."
(source)