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US under Trump Series: Budget proposals of President Trump
US President Donald Trump released his budget proposals for 2018 and it looks just as he said it might. Among $3.9 trillion US budget, only 27 percent or about $1.1 trillion is under discretionary segment and rest is mandatory spending. Every year, the congress and the President fight over this 27 percent. More than 50 percent of this discretionary budget is spent on the military.
As promised, President Trump has proposed,
Spending increase:
- 9 percent increase in Military spending which is about additional $52 billion.
- 6 percent increase in Veteran affairs which is about $4.4 billion.
- 7 percent increase in Homeland Security, which is about $2.8 billion.
These three areas are the only where proposed spending have been increased.
Spending reduced:
- 31 percent proposed cuts in Environmental Protection Agency (EPA), which is about $2.5 billion.
- 29 percent proposed cuts in State department, USAID, which is about $10.9 billion.
- 21 percent proposed reductions in Agriculture, which is about $4.7 billion.
- 21 percent proposed cuts in Labor department, which is about $2.6 billion.
- 18 percent proposed reduction the department of Health and Human services, which is about $15.1 billion.
- 16 percent proposed cuts in Commerce department, which is about $1.4 billion.
- 14 percent proposed reductions in Education department, which is about $9.2 billion.
- 13 percent proposed reductions in Housing and Urban development, which is about $6.2 billion.
- 13 percent proposed reductions in Transportation, which is about $2.4 billion.
- 12 percent proposed reductions in Interior, which is about $1.6 billion.
- 5 percent proposed reduction for Small Business Administration and that is about 0.1 billion.
- 6 percent proposed cuts in Energy department, which is about $1.7 billion.
- 4 percent proposed cuts in the Justice department, which is about $1.1 billion.
- 4 percent proposed cuts in Treasury department, which is about $0.5 billion.
- 1 percent proposed reductions in NASA and that is $0.1 billion.
This skinny but strong proposal has triggered furor among both Democrats and Republicans. The budget is unlikely to get passed as is.
Editor's Picks
July 21 14:30 UTC Released
USECRI Weekly Annualized*
Actual
144.8 %
Forecast
Previous
2.4 %
July 21 14:30 UTC Released
USECRI Weekly Index*
Actual
2.6 %
Forecast
Previous
143.9 %
July 24 00:30 UTC 831m
JPForeign Direct Investm't*
Actual
Forecast
Previous
52.4 bln $
July 24 07:00 UTC 1221m
FRMarkit Serv Flash PMI
Actual
Forecast
56.7 %
Previous
56.9 %
July 24 07:00 UTC 1221m
FRMarkit Mfg Flash PMI
Actual
Forecast
54.6 %
Previous
54.8 %
July 24 07:00 UTC 1221m
FRMarkit Comp Flash PMI
Actual
Forecast
56.4 %
Previous
56.6 %
July 24 07:30 UTC 1251m
DEMarkit Service Flash PMI
Actual
Forecast
54.3
Previous
54.0
July 24 07:30 UTC 1251m
DEMarkit Mfg Flash PMI
Actual
Forecast
59.2
Previous
59.6
July 24 07:30 UTC 1251m
DEMarkit Comp Flash PMI
Actual
Forecast
56.3
Previous
56.4
July 24 08:00 UTC 1281m
RUMarkit Mfg Flash PMI
Actual
Forecast
57.2 %
Previous
57.4 %
