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.

Support The Libertarian Institute

We rely on the generosity of our donors to make all of this possible. Support The legendary Sheldon Richman, the firebrand Pete Quinones, the brilliant Kyle Anzalone and our great group of writers and podcasters.

About Norman Singleton

Norman 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 this month. 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.

Our Books

6 Libooks011721lg

Related Articles

Related

The Many Flaws of U.S. Nuclear Policy

The Many Flaws of U.S. Nuclear Policy

The threat of “nuclear proliferation” remains one of the great catch-all reasons—the other being “humanitarian” intervention—given for why the U.S. regime and its allies ought to be given unlimited power to invade foreign states and impose sanctions at any given time....

read more
Can Libertarians Oppose Short Selling?

Can Libertarians Oppose Short Selling?

Amid the controversy over GameStop, many cynics argued that something sinister was clearly afoot because the hedge funds had shorted 138 percent of the outstanding shares. In this article I’ll review that particular claim, as well as another seemingly dubious...

read more
The Insurrection That Wasn’t

The Insurrection That Wasn’t

Somebody still needs to get a memo to the Justice Department about the so-called insurrection at the Capitol on January 6 because it has yet to charge anyone with that offense. All I is see is a range of criminal offenses like disorderly conduct, assault, trespass,...

read more
Enoughalreadyproof

Enough Already: Time to End the War on Terrorism

by Scott Horton

Book Foolssm

No Quarter: The Ravings of William Norman Grigg

by Will Grigg

Book Foolssm

Fool’s Errand: Time to End the War in Afghanistan

by Scott Horton

Book Foolssm

Coming to Palestine

by Sheldon Richman

Book Foolssm

The Great Ron Paul

by Scott Horton

Book Foolssm

What Social Animals Owe to Each Other

by Sheldon Richman

Pin It on Pinterest

Share This