WASHINGTON (AP) – President Donald Trump is proposing a $4 trillion-plus budget that projects a $1 trillion or so federal deficit.
Unlike the plan Trump released last year, the 2019 budget never comes close to promising a balanced federal ledger even after 10 years.
And that’s before last week’s agreement for $300 billion is added this year and next, a deal that showers both the Pentagon and domestic agencies with big budget increases.
The spending spree, along with last year’s tax cuts, has the deficit moving sharply higher with Republicans in control of Washington.
The original plan was for Trump’s new budget to slash domestic agencies even further than last year’s proposal, but instead it will land in Congress three days after he signed a two-year spending agreement that wholly rewrites both.
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