President Donald Trump's first budget proposal will follow the "priority of the United States" principle, transfer the budget overseas into national defense, law enforcement and veterans. President Donald Trump plans to increase the defense budget by 10%, if adopted by Congress, will be a historic increase in defense spending.
According to the budget proposal issued by the Office of Management and Budget official (OMB) on Monday, defense spending will increase to $ 603 billion in 2018 and $ 462 billion in non-defense spending.
Trump's proposal includes an increase in defense-related spending of $ 54 billion, while cutting the same amount of other federal agency spending. If it is passed by Congress, this means that federal spending on national security will increase on a large scale, while other priorities, such as foreign aid and environmental protection budgets, will be significantly reduced. This is the first time that the authorities have pointed out the budget priorities. Before the adoption of the Budget, President Trump and Congress are expected to go through months of consultation.
The White House did not talk about mandatory spending or tax policy changes, but said the details will be announced later. The welfare program is the most important part of government spending, such as social security pension, Trump authorities have said it will not be modified.
President Trump's budget proposal will be submitted to Congress on March 16, the final version will be issued in early May. In view of the new government plans to cut the tax system and increase defense spending, the outside world worried that this will further increase the size of bonds.
4 comments:
Such proposals by the Trump administration clearly demonstrate the blindness that takes over in regards to some of the country's priorities, such as education, healthcare reforms, and environmental policies.
Mr. Trump is counting on the people's lack of knowledge of the real current situation going on in the country to promote values and policies that have been in place for the past years, thus being able to "continue" such a legacy that has received support by its residents. This way, he is able to gain, and even maintain, support of his presidency but, simultaneously, leaving other issues unresolved or put aside.
Increased military spending is questionable in my opinion. The United States already spends significantly more on defense than the rest of the world. This combined with spending on the wall is massive, and it really seems like there are better ways the federal government could spend money.
His budget proposal also suggested a large decrease in foreign aid. That is detrimental to many countries around the world like Pakistan which rely on U.S aid for various sectors including its economy and humanitarian efforts. His budget proposal and if he goes through with all that he promised in his campaign we could be facing a national debt of about $20 trillion under his administration. His Mexican border wall and deportation program has an estimated price of about $5 trillion dollars. That and an increase in defense spending will have a huge effect on taxpayers and their wallets. With so many students in debt and the cost of healthcare on the rise it seems foolish that Americans should have to pay for more military spending when they could improve their quality of life. The middle class as always will be the one to suffer the most.
I am also skeptical about the push for military spending. This appears to be similar to Reaganomics approach to the economy. It seems as though trump is "burning the candle at both ends," this may result in an even larger US deficit. I am also concerned about the short sighted approach of many of these polices, that aren't investing in the long term health of the economy.
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