President Donald Trump continues to try to keep the promises he made as candidate Trump, even in the face of unprecedented opposition by Congressional Democrats set on derailing every aspect of his agenda.

And so it is with the president’s proposed budget for fiscal year 2018 that would serve to reduce not only the federal deficit, but the national debt – if, and that’s a big ‘if,’ Congress decides to act on it.

Trump’s budget would reduce both mandatory and discretionary spending that would reduce the deficit – the difference between what the federal government takes in and what it spends – by $160 billion over the next ten years.

His cuts would take the deficit down to a third less than originally projected, according to the Congressional Budget Office.

The impact on the federal debt would be just as significant if the proposed budget is adopted by Congress and sent to the president’s desk for signature.

As of mid-July, the federal debt stands at a staggering $19 trillion, just $37 billion away from hitting $20 trillion – a figure unfathomable to virtually anyone without a degree in advanced economics or a bureaucrat in the Treasury Department.

Trump’s budget would cutback across the board to health care, student loans and other programs, saving approximately $2 trillion.

However, an important piece of Trump’s budget hangs in the balance as Congressional Republicans squabble over how to make good on the promises to repeal and replace Obamacare that sent them to Washington.

According to the CBO, “The largest savings—$1.25 trillion over the 2018-2027 period—would stem from the proposal to repeal and replace the Affordable Care Act.”

Republican leadership has called for Congress to stay in Washington and forego its usual August recess to work on passing a health care bill, but significant resistance remains not only from the Democrats, but Republicans like Rand Paul who are adamant about passing a “real reform” bill instead of what they call “Obamacare-lite.”

The president’s budget also lowers some discretionary spending by almost $2 trillion, while increasing defense spending by $668 billion.

Spending on Internal Revenue Service enforcement would be cut by $19 billion, and an additional $10 billion would be saved by his plan to privatize air traffic control.

The bold moves not only make good on his promise to tackle the deficit and the national debt, but again show the president’s commitment to keeping the nation safe and returning the country to solid financial standing.

Now it’s up to Congress to do its part.

Please SHARE on Facebook and encourage people to get in touch with their senators and representatives to repeal and replace Obamacare and help pass President Trump's budget. The country must return to sound fiscal policies to reduce the deficit and debt going forward.

Source: Free Beacon

 
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