Here are a few disastrous details ....... so INDIVISIBLE ST JOHNS, what resistance actions are you going to take?
The White House released more details of its federal budget proposal on Monday. It includes substantial cuts to Medicaid
and other aid to the poor. Because it comes packaged with tax cuts, it
assumes the economy will grow faster as a result and ultimately balance
the budget by 2027. It is, however, unlikely to pass Congress as is.
Spending cuts: $4.3 trillion over 10 years
Nondefense discretionary spending: $1.4 trillion
As outlined in March’s “skinny budget,”
the proposal includes significant cuts to most nondefense government
agencies. The Environmental Protection Agency would be cut by 31 percent
for 2018 and the State Department and related programs by 29 percent,
with additional 2 percent cuts each year after. Law enforcement and
homeland security spending are exceptions — the budget includes $1.6
billion for a border wall.
Medicaid and the Children’s Health Insurance Program: $616 billion
Changes
to Medicaid and the Children’s Health Insurance Program would save the
federal government money, but would reduce the number of people with
insurance. Medicaid savings are estimated at $610 billion over 10 years.
The administration would shift some costs to the states, by setting
annual limits on federal payments to each state, starting in 2020.
Claimed savings from reductions in war funding: $593 billion
Phasing
down the Defense Department’s Overseas Contingency Operations fund, an
off-budget spending account that is used to fund wars, saves some more
money. The fund has been used to override spending caps passed by
Congress and could be changed during any given year.
Other: $339 billion
The budget includes new limits on medical malpractice lawsuits, expected to reduce the practice of “defensive medicine,” saving Medicare
$31 billion over 10 years. It also proposes raising about $36 billion in
new federal revenue by selling off major American energy resources and
infrastructure, opening up vast new areas of public land for oil
and gas drilling, and redirecting state revenues that flow from oil and
gas royalties back to Washington. The Postal Service would see $46
billion in cuts.
Savings on interest payments on the debt: $311 billion
Interest
payments on the federal debt are one of the federal government’s
biggest expenses. Under current law, the interest payments are expected
to grow as deficits mount and interest rates increase. The Trump
administration predicts that its cost-cutting will slow this rise.
Welfare programs: $272 billion
The
budget seeks to cut the Supplemental Nutrition Assistance Program,
which provides food stamps, by $190 billion and the Temporary Assistance
for Needy Families block grants by $15.6 billion. It also proposes $40
billion in savings by barring undocumented immigrants from collecting
the child care tax credit or the earned-income tax credit.
Repeal and replace Obamacare: $250 billion
Undoing
the Affordable Care Act would save $250 billion over 10 years,
according to the Trump administration, which promises “a smooth
transition away from Obamacare.” (These savings are in addition to those
proposed for Medicaid.)
Student loans: $143 billion
The
Trump administration is proposing large cuts to the federal student
loan program for low-income college students. The proposal eliminates
federally subsidized loans, which pay students’ loan interest while they
are in school, saving $39 billion. The budget would also eliminate the
public service loan forgiveness program for nurses, police officers and
teachers. The largest savings, about $76 billion, would come from
creating a single student loan repayment plan based on income.
Government payments: $142 billion
The
budget promises savings from reducing unspecified government payments
through “actions to improve payment accuracy and tighten administrative
controls.”
Disability programs: $72 billion
The budget would tighten access to Social Security’s
disability program, counting $48 billion in savings from testing “new
approaches to increase labor force participation.” The budget does not
make changes to Social Security benefits for retirees, which along with
Medicare is one of the primary drivers of the nation’s debt.
Retirement benefits for federal employees: $63 billion
Cutting
retirement benefits to federal workers would save $63 billion over 10
years. It would be done by reducing the cost-of-living adjustment for
retirees and by gradually increasing government employees’ contributions
to their own retirement fund.
Farm bill programs: $38 billion
President
Trump is proposing a cap on crop insurance premium subsidies and
eliminating commodity payments and crop insurance for farmers with
adjusted gross income above $500,000 a year.
Financial regulation: $35 billion
Unspecified changes to the Dodd-Frank Act passed after the financial crisis of 2008 would produce more savings.
Spending increases: $717 billion over 10 years
Discretionary defense spending: $469 billion
Mr.
Trump is proposing a roughly 10 percent increase to the Pentagon’s base
budget, with some of the money going toward new jets for the Air Force
and ships for the Navy. The increase goes hand in hand with Mr. Trump’s
proposal to cut foreign aid, including programs that military officials
say contribute to global stability and are seen as important in avoiding
future conflicts.
Infrastructure investment: $200 billion
The
$1 trillion infrastructure program is now called a private/public
infrastructure investment, priced at $200 billion over 10 years.
Veterans Choice Program: $29 billion
The
budget would extend a voucherlike program that allows veterans to seek
medical care in private hospitals outside the Veterans Affairs system.
New paid parental leave program: $19 billion
A new program would provide six weeks of paid leave to new parents.
Claimed savings from economic growth: $2 trillion
The
bulk of the savings in Mr. Trump’s budget come from “economic feedback”
effects. The administration is projecting that its tax cuts and changes
to welfare programs will spur significant economic growth and expand
the work force, resulting in $2 trillion more in revenue than would have
been generated under current law. The economy would need to grow at
least 3 percent per year, a pace most economists say is unrealistic.
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