This Week's Forecasts & Trends E-Letter
Why President Trump’s Conservative Budget Is Going Nowhere
March 21, 2017
Last week President Trump unveiled a surprising new federal budget proposal for fiscal year 2018, which begins on October 1st. The budget was a shocker in that it proposed cutting spending in every federal agency save for Defense, Homeland Security and Veterans Affairs.
The new budget would slash Environmental Protection Agency spending by over 31% next year and cut State Department spending by over 28%, all in one fell swoop. It is by far the most conservative, smaller government budget we have seen in my adult lifetime.
Yet Mr. Trump’s new budget, with near across-the-board spending cuts, has little chance of passage in Congress. I’ll explain why as we go along today.