The White House is asking Congress to approve a $ 4.4 trillion spending bill likely to balloon the national deficit and irk President Trump’s own party.
The widening spending gap comes months after lawmakers approved massive tax cuts, which took away billions in revenue filling government coffers.
And it doesn’t factor in a $ 300 billion spending bill for the next two years that Trump signed into action last week. The budget item increased Pentagon spending and more money for domestic programs.
Revenue will dip by $ 3.7 trillion between 2018 and 2027, the document says — a major departure from last year, when a slight surplus was predicted in the next 10 years.
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The deficit for the 2019 budget year is projected to be $ 984 billion, but could go higher after the lsat week’s spending bill.
Entitlement programs like Social Security and Medicare survived cuts, with lawmakers skittish about slashing the programs ahead of the 2018 midterm election.
The Trump administration also wants $ 23 billion to embolden border security, plus $ 18 billion to finance a massive wall along the southwest border with Mexico and other immigration measures.
The White House has also touted a new infrastructure plan. Uncle Sam would spend $ 200 million over the next decade under the proposal, which it hopes will kickstart $ 1.5 trillion of infrastructure development mostly financed by state and local governments along with private companies.
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The Trump White House also wants $ 686 billion for defense spending — a record amount.
Donald Trump in the White House
“We took care of the military like it’s never been taken care of before,” Trump boasted, adding he gave Defense Secretary Jim Mattis everything requested.
“We want you to buy twice, twice what you thought for half the price,” Trump told the Pentagon.
But the spending numbers are likely to be molded as the House of Representatives and Senate debate the bills.
With News Wire Services
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