OMB Director Mick Mulvaney wrote in a letter to Congress, “We believe that this level [of nondefense discretionary spending] responsibly accounts for the cap deal while taking into account the current fiscal situation. Spending at the levels included in the cap deal would add an additional $680 billion to the Nation’s deficit over ten years above the 2019 Budget.” If President Trump’s current plan were enacted, it would reduce the deficit by $3.6 trillion over ten years. While an admirable first step, the FY 2018 deficit is projected to hit $1 Trillion, meaning that the budget still wouldn’t balance and that the Obama era debt would not decrease. As this is a starting position of sorts, more cuts would likely be forthcoming in future budgets.
8.) Trump Proposes To Lower The Debt
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