President Trump has made some significant plans with the budget he proposes, and while some of them are in line with his campaign promises, others seem a bit extreme. But, Trump is a businessman and knows that this is just the first draft. He most likely expects adjustments and planned for them to be in favor of his intentions, just as every good businessman does.
President Trump has proposed a $3.6 trillion cut to federal spending over the next 10 years. His plan gives $639 billion in military spending aimed at increasing troops and supplies while also addressing the immigration issue. The Energy Department’s National Nuclear Security Administration alone will receive an 11.4% increase.
More cuts are in the works for those on social welfare programs. The goal is to get people back to work who can work, not to cut off people who use the programs for what they were intended. On top of budget cuts are more work requirements for those who are part of programs like SNAP.
But, there’s good news for families too, as the budget includes funds for new parents, by birth or adoption, to take up to six weeks off work. The $25 billion that is proposed for the program will come from funds that were previously wasted in unemployment insurance programs.
The EPA takes a huge hit, losing around 30% of its funding, some of which was used for toxic waste disposal and other programs run by the states with federal funding. Law enforcement gets a 4% decrease while education gets a 13% decrease.
Federal employees and retired employees may see a difference in their paychecks, too. Trump has proposed a reduction in cost of living increases for those who are retired. Federal employees can also expect to put more of their own paychecks into their retirement accounts, if the new budget passes.
The big question is where some of this funding might come from. The cuts will help, but the budget is also based on projected economic growth charts — ones that don’t necessarily show the same adjustments that the budget does. However, part of the funds may come from selling off half of the emergency oil reserves, so President Trump may be adjusting projections based on what the sales indirectly do for the economy.
All in all, the president has made it clear that he intends to honor his campaign promises, and that may start with financial adjustments.