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Trump’s Budget: the Good, the Bad, and the Ugly

by | Feb 18, 2018

Trump’s Budget: the Good, the Bad, and the Ugly

by | Feb 18, 2018

The Good

  1. Reduces spending by $48.4 billion, including $25.8 billion from eliminating programs.

  1. Increases the ability of Medicare Part D plans to negotiate for lower drug prices.

  1. Adopts a two-year penny plan to reduce no-defense discretionary spending by 2 percent per year after 2019.

  1. Zeros out funding for global climate change initiative.

  1. Zeros out funding for “development assistance” for foreign countries.

  1. Privatizes the international space station.

  1. Privatizes Reagan National and Dulles airports.

  1. Cuts the Environmental Protection Agency by 25%.

  1. Cuts the Department of Education by $3.6 billion.

  1. Cuts crop insurance by $26 billion over 10 Years.

  1. Allows those on Medicare to make tax deductible contributions to a Health Savings Account.

The Bad

  1. Spends $4.4 trillion next year, an increase of $2 billion dollars.

  1. Adds $984 billion to the deficit next year and $7 trillion to the deficit over 10 years.

  2. Increases “Defense” spending by $80 billion to a total of $716 billion.

  3. Provides $55 billion in non-defense spending, a $75 billion increase.

  4. $17 billion for the war on Opioids most of which will be spent on politics militarization and the war on pain doctors and patients.

  5. $586 billion increase for the Drug Enforcement Agency.

  6. $58 Billion for Bureau of Alcohol, Firearms, Tobacco, and Explosives.

  7. $402 million for anti-gun Byrne Grants.

  8. Increases aid to Israel and Jordan as well as spending on other foreign aid programs.

  9. Increases Department of Commerce’s  budget by $690 billion for the upcoming Census.

The ugly

  1. Budget forecasts are based on unrealistic projections of economic growth. Deficit would be much worse with more realistic projections.

  1. The increase in spending and debt means the economic and liberty benefits of the tax cuts may be short-lived (see Dan Mitchell for more on this).

  1. Limits the ability of food stamp recipients to use their stamps at grocery stores. Instead they would have food boxes containing staples like meat, bread, and pastas delivered. So this would get government into the food delivery business. I am certain this will be done in a cost-efficient manner, free of cronyism and will ensure that the food stamp recipients nutritional needs are met.

  1. Provides taxpayer money to bail out insurance companies who lose money participating in Obamacare exchanges, the same bailouts President Trump cancelled last year and the Republican Congress fought for years. See more on this here.

 Reprinted from the Campaign for Liberty.

Norman Singleton

Norman Singleton

Norman Singleton is currently a Senior Fellow at the Market Institute. Mr. Singleton worked for Congressman Ron Paul from 1997-2012. Mr. Singleton served as Legislative Aide on Education and Workforce issues for Congressman Paul from 1997-2001, when he became Congressman Paul’s Legislative Director, a position he held until Congressman Paul left Congress in 2013. Mr. Singleton also served as volunteer policy director for the Ron Paul 2012 Presidential Campaign. Prior to working for Ron Paul, Mr. Singleton worked for the National Right to Work Committee. Mr. Singleton graduated Cum Laude from Washington and Jefferson College with a degree in economics and is a 1991 graduate of the University Of Pittsburgh School Of Law. He is also a founding member of the Republican Liberty Caucus.

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