Trump budget includes infrastructure plan, steep social cuts, rising deficits
President Donald Trump on Monday unveiled an ambitious proposal to renew American infrastructure as part of a budget that calls for a stunning rise in debt and trillions in cuts to social spending. The fiscal blueprint abandons the long-held Republican goal of balancing the federal budget within a decade, with deficits projected to peak in two years and persist into the foreseeable future amid an aggressive buildup in defense spending.
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We’re expecting steep cuts in Medicare, maybe the end of Medicaid, and then we finish off Social Security. Bill Clinton, of course, had already begun “reforming” Social Security back in the 1990s, targeting the disabled. (Some forget that we’re over 20 years into our war on the poor.) All we can do is adjust.