More than a budget project, the document presented Monday by the Donald Trump Administration looks like a compendium of electoral promises ten months from the November presidential elections. The accounts presented by the White House for fiscal year 2021 (which begins in October) include an increase in military and security spending while addressing significant cuts in social programs, such as housing and food aid, as well as Medicaid.
Under the title A budget for America’s future (“A budget for the future of America”), Trump’s budget plan amounts to 4.8 billion dollars (about 4.4 billion euros) and includes about 750,000 million in defense spending. To fulfill his promise to get man back on the moon by 2024, the game for NASA grows by 12% and for the Department of Veterans the budget increases by 13%. The Donald Trump Administration throws in the towel in its purpose of eliminating the deficit in the next 10 years and now hopes to achieve this goal by 2035.
The tax cut has had a considerable impact on the deficit, which is estimated to exceed one billion dollars at the end of September, up to 4.7% compared to the average of 2.7% in the last 50 years.
Donald Trump’s team is confident that the economy will grow more than analysts anticipate and estimates that GDP will increase at a rate of 3% per year if presidential plans are implemented, which would increase tax revenues, something that is not consistently achieved in more than a decade and that has not been seen in an economy after 11 consecutive years of growth. In fact, the project includes an extension of the tax rebates that it approved in 2017 – for a value of 1.5 billion dollars – and that were due to be completed by 2025.
In return, the project cuts expenses by 2.2 trillion dollars in the next decade, especially in the foreign aid item (-21%), housing (-15%), the Environmental Protection Agency (-26%) , And domestic social programs, including assistance for the disabled and homeless. In total, non-military spending is reduced by 5%.
It does not seem possible, in any case, that as are the relations between Democrats and Republicans and after the fiasco of impeachment, Trump got Congress to approve his project. Even in the Senate, where Republicans have a majority, spending laws require support from both parties.
The Democratic leader in the House of Representatives, Nancy Pelosi, said that “once again, the president shows how little he values the health, financial security and welfare of American families who work hard.” “Year after year, the President Trump’s budget has tried to violate devastating cuts to aid that millions of Americans trust. “
In the opinion of the president, the budget draws the path for “a future of American dominance and prosperity.” “There is an optimism that there was before 63 million Americans asked me to work for them and clean this swamp,” said the leader. “For decades, Washington elites have told citizens that they had no choice but to accept stagnation, decline and decline. We have shown that they were wrong. Our economy is strong again. ”
“We will not touch your social security or Medicare in the 2021 Fiscal Budget,” Trump tweeted, although in the 2016 campaign he promised to end the model set by his predecessor Barack Obama. “Only the Democrats will destroy them by destroying the best economic stage of our country!” The budget plan will request, as planned, 2,000 million for internal security related to spending on the wall on the border with Mexico, whose construction is expected to advance by 645 kilometers towards the end of this year.
According to Democrats, the budget cuts billions of dollars from the federal health care program (Medicare), with drug price reforms and new requirements for granting food stamps and disability benefits.