WASHINGTON - US President Donald Trump unveiled his 2020 budget Monday that basically has no chance of getting enacted. Even Republicans balk at some of Mr Trump's proposed cuts.
Consider just this year and next: Mr Trump's budget forecasts 3.2 per cent growth this year - almost a full per cent above the Federal Reserve's 2.3 per cent prediction. In 2020, the vast majority of economists think growth will be around 2 per cent , but Mr Trump's budget predicts 3.1 per cent growth.
The Trump administration likes to refer to a 5 per cent cut in non-defence spending, but some agencies get far bigger chops than others. The EPA and Corps of Engineers would lose almost a third of their current funding. 6. Cut Medicare by more than US$500 billion. Mr Trump promised on the campaign that he would not touch Social Security or Medicare, but he uses this budget to propose a major cut to Medicare for the first time. Mr Trump wants to"reduce wasteful spending" on Medicare by expanding the list of treatments that require prior authorisation before the procedure can be done and putting medical providers on notice who charge more than others.
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