Despite its economic assumptions and severe spending cuts, Trump’s latest budget would still result in a bigger national debt than would have resulted from the policies in President Obama’s final budget proposal
that could help people in the millions, reduce future health care costs by billions, and increase economic output by trillions over time.
Ironically, one of the few redeeming qualities of Trump’s budget is the one for which he’s taking the most heat from many Democrats and the media: changes to Medicare. On its surface, the Trump budget appears to include $845 billion of cuts to Medicare spending. But this figure is misleading: roughly
Trump also calls for inexplicably large increases in defense spending. Between 2017 and 2019, lawmakers increased annual Pentagon spending by 14% . The administration now wants to increase spending in 2020 by an additional 8% over 2019 levels. Absent a plausible strategic rationale, such a dramatic escalation is a recipe for wasteful spending. Even worse, the administration wants to circumvent caps on defense spending by laundering the money through the Overseas Contingency Operations Account .
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