Why Trump's budget plan wouldn't likely accelerate growth
- Author: Zachary Reyes Jun 03, 2017,
Jun 03, 2017, 16:07
Office of Management and Budget Director Mick Mulvaney offered a baffling defense of this accounting strategy at his Monday briefing with reporters. However, Democrats are warning the president's budget demonstrates he's not interested in supporting the public health and insurance programs that millions of Americans rely on.
Another big factor contributing to the coverage loss would be cuts to Medicaid funding of at least $600 billion, as detailed in the administration's budget. The only reason it's not getting more attention is, Congress makes its own budgetary decisions, so any budget from any president is more of a suggestion than anything.
There also appears to be a dubious calculation regarding how the tax cuts are counted: The plan seems to use the lower taxes championed by Trump to promise stronger growth while also assuming that the tax cuts will boost revenue to shrink the budget gap. "And as a outcome I think it is just disastrously consequential to build a budget on 3% - the bible says you can't build a house on a sandy foundation", Sanford said.
It is unclear if the Republican-controlled House and Senate will be able to pass a budget blueprint for the fiscal year starting on October 1.
A popular children's health program for families that earn too much money to qualify for Medicaid would get a two-year extension.
Biggs said the budget could reverse the looming insolvency of Social Security and Medicare that would have left "our grandchildren ... with an unpayable debt". The program more than doubled in cost during the recession, and after some eligibility rules were expanded. Repeal of the group would add roughly $7 billion in federal spending, according to the budget proposal.
"It's important to note, #SNAP plays a crucial role in protecting our most vulnerable citizens who've fallen on tough times", tweeted House Agriculture Chairman Mike Conaway, R-Texas, after the budget was released.
Cole, a close ally of House Speaker Paul Ryan, R-Wis., got dire.
Likewise, a 10-year, $191 billion reduction in food stamps " nearly 30 percent " far exceeds prior proposals by Capitol Hill Republicans.
"The foundation for the plan is 3% growth". Congress, which has typically controlled many aspects of Medicare's payments through legislation, has limited oversight of IPAB, which was set up specifically to make reductions to USA health spending at a distance from lawmakers and lobbyists. In a preview of attacks to come, Senate Minority Leader Charles E. Schumer (D-N.Y.) said Monday that the deep-cutting budget blueprint is further evidence that Trump's core campaign promise to protect working people was a lie.
Mnuchin also urged the House Ways and Means Committee members to pass the debt limit legislation as a "clean" bill without controversial add-ons that could complicate its passage. She said that's "cruel", "heartless" and "inhumane".
Large school districts would benefit from school choice programs but rural communities in SC with fewer options may have a more hard time adjusting, he said.
"This rhetoric, this demagoguery just doesn't help the debate at all", he said. What it does is perpetuate a myth that we can go out there and balance the budget without touching entitlements.
Education Secretary Betsy DeVos is defending the Trump administration's proposal to slash funding for key K-12 and higher education programs while promoting school choice.
Rep. John Carter, a Texas Republican who chairs the subcommittee, described the proposed cuts as "worrisome" and also questioned the need to add thousands of new immigration jail beds.
Let's put aside the fact that just under half of all Americans who receive Supplemental Nutrition Assistance Program benefits (formerly known as food stamps) are children, and that the vast majority of the people on the program work for a living. "Compassion needs to be on both sides of that equation", he said Tuesday.