3 keys to understand Trump's new budget proposal

3 keys to understand Trump's new budget proposal

The budget is sure to go nowhere in Congress, as Democrats control the House and the document includes politically toxic ideas in cutting Medicare, a largely popular program among its users.

U.S. Rep. Bill Foster, D-Naperville, pointed to the budget's call for cuts to scientific research as risky to the nation's reputation as a leader in scientific research and innovation.

For the fiscal year 2020, President Donald Trump proposed slashing Medicaid by $1.5 trillion, Medicare by $845 billion and Social Security by $25 billion. "We are heartened that President Trump's budget continues to highlight the need to address prescription drug prices", said the group.

The Trump administration unveiled a budget Monday that would reduce spending in Medicare as well as Medicaid, which provides coverage for low-income Americans, by hundreds of billions of dollars compared to current law.

"It is obviously a tough sell because of a divided government and a clash over the priorities of our nation", House Budget Committee ranking member Steve Womack (R-Ark.) told The Epoch Times, adding that the Republicans have done their job well in articulating the fiscal condition of the country.

Factoring in this change, Medicare spending would be $575 billion lower, said Marc Goldwein, senior vice president at the Committee for a Responsible Federal Budget, a think tank.

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Also, as expected, the president intends to cut $220 billion in the Supplemental Nutrition Assistance Program (known as SNAP or, more commonly, as food stamps), $21 billion in Temporary Assistance for Needy Families, $207 billion in the student loan program and seeks up to a 31-percent reduction in the Environmental Protection Agency.

One of the cuts proposed in the upcoming budget may fly under the radar, but the severe cut of funding for the Great Lakes will not escape the attention of inhabitants there.

"These cuts in the Trump budget aren't a tightening of the belt or a trimming of the fat, or even a serious attempt at reining in spending", House Budget Committee Chairman John Yarmuth (D-Ky.) said during the hearing.

Trump's budget also includes other provisions - such as medical liability reform and drug industry changes - that would indirectly affect Medicare and bring federal savings down to roughly $515 billion, Goldwein said. About $718 billion of that would go to the Defense Department.

"At the end of the day, this is a really irresponsible budget in which the president is also breaking promises that he made to the American people", she said, "It's going to undermine critical health care services for millions of Americans". "But I do appreciate the president's signaling that he wants to actually balance the budget". The budget forecasts the economy will grow about 3 percent annually over the next decade, relying on the assumption that the deregulation and tax cuts will have a long-lasting impact on the economy.

"Look at the 1980s, look at the 1990s", he said. It would have capped federal spending on the entire program and left millions of people uninsured. "That will be fine", he told The Epoch Times.

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