Cabinet members head to Capitol Hill to defend Trump budget

The plan, Trump's first as president, combines $4.1 trillion for the upcoming 2018 fiscal year with a promise to bring the budget back into balance in 10 years, relying on aggressive spending cuts, a surge in economic growth — and a $2 trillion-plus accounting gimmick. There's little appetite among Capitol Hill Republicans for a genuine effort to balance the budget; GOP lawmakers this year are instead pressing to rewrite the tax code and forge a spending deal with Democrats that would permit higher military spending. Trump's budget holds true to his campaign pledge to leave Medicare and Social Security pension benefits alone and contains spending increases for the military and veterans, but it treats most of the rest of the government as fair game. Trump's balanced-budget goal depends not only on the growth projections that most economists view as overly optimistic but also a variety of accounting gimmicks, including an almost $600 billion peace dividend from winding down overseas military operations and "double counting" $2.1 trillion in revenues from economic growth — using them to both pay for tax cuts and bring down the deficit.

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Cabinet Members Head To Capitol Hill To Defend Trump Budget

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Cabinet Members Head To Capitol Hill To Defend Trump Budget

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