Tuesday, March 12, 2019

Trump Administration Releases 2020 ‘Budget for a Better America’

Kevin Dietsch/UPI
The Trump administration released its fiscal year 2020 budget Monday with a focus on “promises kept” and putting “taxpayers first.”
“America is roaring back, and now is the time to invest in the future of America,” President Donald Trump said of the newly released budget entitled, “A Budget for A Better America: Promises Kept. Taxpayers First.”
The administration sought to highlight three top-line aspects of the budget in a release Monday: moving economic prosperity forward, responsibility, and investment in America. One of the primary focuses was on reducing government spending.
“The Trump Administration’s pro-growth policies have unleashed the American economy, creating millions of jobs and resulting in historically low unemployment,” a White House release from the press secretary read Monday. “However, the national debt – currently more than $22 trillion – remains a grave threat to our economic and societal prosperity.”
The administration pointed to the 2020 budget’s reduction of “nondefense programmatic spending by 5 percent” to a cap level below that in 2019. It takes aim to eliminate or reduce ineffective programs and “reduces spending by $2.7 trillion over 10 years.” The administration projects that the move will reduce the deficit from five percent of GDP in 2020 to less than one percent within ten years.
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