The Trump Administration released its 2019 budget proposal
on February 12th, 2018
The
2019 budget is here while the White house 2019 budget page with
the budget and related supplements is here.
Here are some highlights. The budget has large reductions in
social programs such as: HHS budget would be cut by 21%. HUD down 18%.
Interior slashed 16%. Labor drops 21%. State cut 26%. Transportation reduced by
19%.
In the proposed budget, Defense spending is increased by 13%
next year including $24 billion more for nuclear weapons. Defense spending
would increase by 80% over the next 10-years compared to social spending.
There is also a separate two-penny (2%) across the board cut
for all domestic, discretionary spending each year. That’s about a 30% cumulative cut over the 10-year
budget period.
Treasury budget includes an “integrity” program to reduce the
gap between “taxes owed vs. taxes collected” by $29 Billion. IRS enforcement
created a big issue with the XXX administration.
In S-2, you see some really brutal cuts to welfare, healthcare
(Obamacare), student loans, disability, retirement, and Medicare. It also
includes huge reductions in “other,” unnamed programs. Interestingly, it
includes $1-2 billion for paid parental leave. The paltry item is split out on
its own line in the appendix.
In S-4, the proposed budget, Trump wants to increase defense
spending by 80% relative to social programs. Right now, the money spent on
social needs and defense is roughly equal. Trump proposes to make defense
spending roughly 80% larger than social program by 2028.
Eliminates the MBDA – Minority Business Development Centers.
Turns MBDA into a “policy” office for the federal government
The GDP is expected to grow by 2.8% and the inflation rate
will average 2.3% over the time span of the budget. The year deficit falls from
$665 B (2017) to $363 B in 2028.
|
Description
|
Amount
|
Change
|
% Change
|
|
|
|
|
|
|
Agriculture
|
$19 Billion
|
-$3.7 Billion
|
-16%
|
|
Commerce
|
$9.8 Billion
|
+$546 MM
|
+6%
|
|
Defense
|
$686 Billion
|
+$80 Billion
|
+13%
|
|
Education
|
$60 Billion
|
-$7.1 billion
|
-10.5%
|
|
Energy
|
$29 billion
|
-$900 Million
|
-3%
|
|
HHS
|
$68.4
|
-$17.9
|
-21%
|
|
DHS
|
$46 B
|
+$3.4 Billion
|
+8%
|
|
HUD
|
$39.2 billion
|
-$8.8
|
-18%
|
|
Interior
|
$11 B
|
-$2.2 B
|
-16%
|
|
Justice
|
$28 B
|
-$345 MM
|
-1%
|
|
Labor
|
$9.4 B
|
-$2.6 B
|
-21%
|
|
State
|
$25.8 B
|
-$9 B
|
-26%
|
|
Transportation
|
$15.6 B
|
-$3.7 B
|
-19%
|
|
Treasury
|
$12.3 B
|
-$392 MM
|
-3%
|
|
VA
|
$83.1 Billion
|
+$8.7 B
|
+11.7%
|
|
|
|
|
|
|
Army COE
|
$4.8 B
|
-$480 MM
|
-20%
|
|
EPA
|
$5.4 B
|
-$2.8 B
|
-34%
|
|
NASA
|
$19.6 B
|
+$500 MM
|
+2.6%
|
|
SBA
|
$834
|
-$53 MM
|
-6%
|
