The white house is preparing to introduce a budget that does not eliminate the Federal budget deficit in the next 10 years, according to the consolidated plan, obtained by CNN.
It is expected that the President will release a budget plan by 4.8 trillion in 2021 in the coming days. Before publication, it became known that the U.S. budget deficit in 2019 exceeded 1 trillion dollars, which is the first release for this figure since 2012.
The deficit continued to grow because of tax cuts and a two-year budget deal, which led to the growth in Federal spending with Donald trump (Donald Trump). At the end of last financial year it increased to 984 billion, compared with 665 billion dollars for its first year of tenure in 2017.
The budget proposal includes $ 2 billion for national defense for the southern border of the United States. The plan also envisages a reduction of us $ 1.5 trillion for “discretionary programs not related to defense”.
The speaker of the house of representatives Nancy Pelosi, responded: “the Budget is a statement of values, and the President again shows how little he appreciates good health, financial security and well-being of working Americans.”