Trump releases 2020 budget proposal

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Binman4OSU

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#1
$4.7 Trillion $$ requested.

increase Defense spending
add $8.6 billion for border wall
Non defense discretionary spending cut down 9%
EPA budget cut 31%
State Dept budget cut of 23%
HUD cut of 16%
increase in Homeland Security Budget
Increase in VA budget

Medicaid partially transitioned into a grant program
Agricultural Crop insurance support would be cut
changes to Student Loans to achieve $200 billion in savings
Root out Medicare waste with goal to save $456 billion over 10 years

Current law will auto cap Defense budget at $576 Billion..down from current $716 billion
Current Law will auto cap Non defense budget at $543 billion down from current $597 billion.

Trump proposal is to keep both those caps in place but give the DoD an additional $165 billion in war funds not subject to auto cuts and another $9 billion in emergency funds

Shift $5 billion from Homeland Security budget and $3.6 billion from Military construction budget to build the wall.
Request an additional $3.6 billion provided to Military construction to replace funds shifted to the wall

Proposed imposing $20 million in new fees on oil companies, chemical manufactures, and railroads to help offset EPA costs. oil facility compliance fee expected to produce $100 million over next 10 years

proposed fee be applied to replacing Social Security cards with estimate to generate $270 million in 2020 alone

Increase the tobacco user fee cap from $712 million to $812 million and begin charging e-cig makers user fees similar to those imposed on cigarette companies to pay for oversight of the products by the FDA

https://www.bloomberg.com/news/arti...llion-budget-headed-for-rejection-by-congress
 

Binman4OSU

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#2
Dept of Education funding cut 10% or $7.1 billion

Calls for ending Federal subsidized student loans

Student loans payback rate will be increased to 12.5% of discretionary income compared to 10% now

All student loan debt to be cancelled after 15 years for undergrads and 30 years for grad students

End public service loan forgiveness program

Pell Grants to be expanded to cover short term training programs

Reduced spending for Federal Work Study programs
 
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kaboy42

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May 2, 2007
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#3
Dept of Education funding cut 10% or $7.1 billion

Calls for ending Federal subsidized student loans

Student loans will be limited to 12.5% of discretionary income compared to 10% now

All student loan debt to be cancelled after 15 years for undergrads and 30 years for grad students

End public service loan forgiveness program

Pell Grants to be expanded to cover short term training programs

Reduced spending for Federal Work Study programs
My student loan debt is about to be cancelled? :huh:
 

CocoCincinnati

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#5
4.7 trillion is insanity....and what's scarier is that I get the feeling that amount is tame compared to what an establishment person (R or D) would propose and probably downright sensible compared to what the Bernie / AOC wing of the Dems would propose.

I like seeing the cuts but obviously we need a crap ton more if them.
 

Binman4OSU

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#6
WH said while the record budget request of $4.7 Trillion was high it would result in $1.9 Trillion in cost savings from mandatory safety net programs like Medicaid and Medicare.

Trump's budget calls for reduced spending on Medicare prescription drugs and Medicare payments to hospitals

The proposal calls for $10 billion cut in Social Security Disability Insurance program

proposed work requirements for working age recipients on Food stamps, HUD programs and Medicaid

$100 billion savings from unspecified reforms to be made to the USPS.

$100 billion reduction in funding to Federal Employee Pension plans

Introduce funding for a new School Choice program

10% increase in VA healthcare funding

$200 billion in spending to improve the infrastructure aimed at reducing the costs of prescription drugs

The budget would have a target to balance after 15 years assuming a growth of 3.1%

The proposed budget would run a trillion dollar deficit for 4 consecutive years starting 2019
 

Binman4OSU

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#7
New spending of $291 Million to defeat the HIV/AIDS epidemic with goal to eliminate 90% of new infections within 10 years

$500 million in new spending over 10 years aimed at child cancer research

$1 billion in spending for a child care fund to improve access to care for undeserved populations (WH confirmed this was championed by Ivanka)


WH Economic adviser Larry Kudlom said on Fox News Sunday that there is no reason for American's to obsess about deficits and said he was confident Trump's tax strategy would result in economic growth at 3% or above in 2019 and beyond.
 

StillwaterTownie

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#10
WH Economic adviser Larry Kudlom said on Fox News Sunday that there is no reason for American's to obsess about deficits and said he was confident Trump's tax strategy would result in economic growth at 3% or above in 2019 and beyond.
LOL, why trust Larry's advice? He didn't see the Great Recession coming. In Dec. 2007, he said "There’s no recession coming. It’s not going to happen.” Warning: Larry thinks the economy might continue going as it is through 2024.

After Trump's tax cuts and tariffs, U.S. economy is projected to be only growing at a 0.5 percent annualized rate in the first quarter. Not helping in the least are still lots of bankruptcies and store closings going on. For starters, Payless Shoes will close 2100 of its stores.

It doesn't seem all that long ago when conservatives were totally disgusted from the first federal budget proposal going over $1 trillion. And what president offered that? REAGAN!
 
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oks10

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#11
After Trump's tax cuts and tariffs, U.S. economy is projected to be only growing at a 0.5 percent annualized rate in the first quarter. Not helping in the least are still lots of bankruptcies and store closings going on. For starters, Payless Shoes will close 2100 of its stores.
For starters, where are you even making a connection here?... I think Payless Shoes being Payless Shoes has more to do with them having to close stores than ANY impact Trump might have on the economy... How many shoes have YOU bought at Payless in your entire life? Because I'm pretty sure I could count with one hand and still have digits left over...
 

StillwaterTownie

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#12
For starters, where are you even making a connection here?... I think Payless Shoes being Payless Shoes has more to do with them having to close stores than ANY impact Trump might have on the economy... How many shoes have YOU bought at Payless in your entire life? Because I'm pretty sure I could count with one hand and still have digits left over...
Oh, so you are such a highly dedicated Trump supporter that you would rather not wonder if Trump's tariffs affected sales at Payless? And, no, I am not a regular customer of Payless.
 

oks10

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#13
Oh, so you are such a highly dedicated Trump supporter that you would rather not wonder if Trump's tariffs affected sales at Payless? And, no, I am not a regular customer of Payless.
Lol. Yeah, you got me. Total Trump supporter over here... :rolleyes: If the tariffs affected Payless in any way, it's because they were barely surviving beforehand... When I see "Payless closing stores" my initial thought is "they were still open??".
 
Nov 8, 2007
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#14
Payless is good just for the simple fact that you can find cheap shoes for your kids. Good place to go to get sub-$10 that are going to be too small and torn up in 3 months.
 

CaliforniaCowboy

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#15
Payless is good just for the simple fact that you can find cheap shoes for your kids. Good place to go to get sub-$10 that are going to be too small and torn up in 3 months.
I bought my kids shoes there all the time.... he goes through them like every six months or even less.

Had to go over to Famous Footwear last week to get him shoes (he's 12), and the cheapest pair were $35 for some crappy pull-on sneakers.... I think we spent $45 on some sneakers for him, when normally we'd pay like $15 or less at pay-less.
 

CaliforniaCowboy

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#20
Payless’s problem is they sell the same shoes that Walmart does.
no, not really.... I've checked both (and Target).

most likely the same as every other brick and mortar ..... online retailers eating everybody's lunch.

you have to have traffic in a brick and mortar, especially when you're operating on a shoe-string budget

(do you like what I did there?)