How Trump's 2020 budget hinges on continued economic growth

President Donald Trump's 2020 budget outline arrives on Capitol Hill at the House Budget Committee in Washington Monday morning

President Donald Trump's 2020 budget outline arrives on Capitol Hill at the House Budget Committee in Washington Monday morning

Donald Trump's acting budget chief on Monday heralded the president's 2020 spending proposal, which looks set to revive his border wall fight with Congress while advocating steep spending cuts to environmental protection and key social safety net programs, as a "return to fiscal sanity". That led Trump to declare a national emergency to bypass Congress and tap funds already allocated for other projects to build the wall.

It was immediately panned by Democrats, who control the House of Representatives and blocked Trump's push for border wall funding in a standoff that led previous year to a five-week partial federal government shutdown. Republicans control the Senate.

And if Donald Trump doesn't get his border money that could trigger a repeat of the five week government shutdown that ended in January.

Instead of building a wall, Pelosi and Schumer suggested Trump begin "rebuilding America". "Congress refused to fund his wall and he was forced to admit defeat and reopen the government. The same thing will repeat itself if he tries this again", said House Speaker Nancy Pelosi of California and Senate Democratic leader Chuck Schumer of NY.

House Budget Committee Chairman John Yarmuth said House Democrats would put out their own budget proposal around the first week of April and that he hoped for a deal with the Senate.

White House economic adviser Larry Kudlow says Trump's budget "points a steady glide path" toward lower federal spending and federal borrowing as a share of the nation's economy.

But he said Trump "is going to stay with his wall". I think the president has made that case effectively.

Despite eye-popping debt on every page of Trump's latest fiscal year (FY) 2020 budget proposal, some in the administration are pushing for a spending fight with Congress at least on one portion of the budget. But it does serve as an early manifesto of his 2020 re-election campaign.

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Reuters reported an administration official saying Trump's budget request grants him the ability to "say he fulfilled his commitment". The debt has prevented us from enjoying more than three percent growth even during the best job market. The White House also aims to cut Medicaid spending by almost $1.5 trillion from 2020 through 2029 through repealing the Affordable Care Act's expansion of the program and converting overall funding to a block grant or per capita caps to states. Republicans have long called for more significant changes to Medicare and other mandatory spending programs that are the biggest drivers of the national debt.

Federal officials have said only about 111 miles have been built so far or are now under construction.

The president's blueprint also requests $8.6 billion in border wall funding. Back in 2016, Mr. Trump suggested he would force Mexico pay for the border wall by threatening to cut off billions of dollars in money transfers that Mexicans who are living in the US send home. The new larger request includes $5 billion for the Department of Homeland Security, combined with $3.6 billion from military construction accounts, a senior administration official said. He added that it was "not fair" to make cuts to a program that people had been paying into for many years, and that he would save it "by making us rich again" and cutting waste, fraud and abuse.

The White House claims its plan would balance the budget within 15 years-and that's only possible because the budget assumes 3 percent annual economic growth, a very rosy outlook.

Some of that new spending-$506 million of it, to be precise-would be used to hire an estimated 2,800 additional law enforcement officers and critical support personnel at U.S. Customs and Border Protection and U.S. Immigration and Customs Enforcement.

Trump faces both political and court battles to free up the money he wants for the current fiscal year.

The request in the budget that's six times more than what he secured through his national emergency is essentially dead on arrival.

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