Friday, January 20, 2017

Under President Trump Federal Spending Cuts are Drastic Over the Next Ten Years

Trump team plans drastic cuts aimed at slashing federal spending by $10.5tn

 Donald Trump 

US President-elect Donald Trump's team is set to announce drastic cuts to government spending with a plan to cut $10.5tn (£8.5tn) over 10 years.
Transition team staff have revealed their plans to White House staff, The Hill reported, with cuts proposed in areas including the State and Justice departments, as well as lower funding for the commerce and energy sectors.
Also among the plans is the elimination of the National Endowment for the Arts and National Endowment for the Humanities, and privatization of the Corporation for Public Broadcasting.
The proposed cuts intend to slash federal spending and reduce debt, in plans that may garner support from Republicans who have previously backed similar proposals aimed at cutting spending.
The blueprint, which would cut spending by $10.5tn over the course of a decade, is similar to that produced by think tank The Heritage Foundation, which has worked closely with Trump's transitional team.
Within 45 days of Trump taking office, his administration is expected to release a "skinny budget" outlining the president-elect's plans, while a full budget is set to be released in mid-April, after Trump has been in office for 100 days.
Although congress will need to approve the federal budget, the plans outlined by Trump will give an indication of what his agenda will look like during his tenure.
However, Democrats and even some Republicans may push back against budgetary proposals they dislike, with Trump's cabinet picks not yet informed about potential cuts in their departments, which could prompt a backlash.

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