Trump's budget plan calls for steep cuts in student loan assistance, affordable housing efforts, food stamps and Medicaid.
President Trump is proposing cuts — in some cases big cuts — to safety net programs that millions of Americans depend on. It’s part of his 2021 budget that the White House unveiled Monday.
Medicaid cuts would come, notes the New York Times, in the form of a lower portion of Obamacare-related medical bills that the federal government would pay for. It would also impose new requirements on beneficiaries who wish to enroll. Altogether, such spending reductions could come to $1 trillion over the next decade.But Trump is not proposing benefit cuts to the two biggest entitlement programs: Social Security or Medicare, possibly to avoid giving Democrats an election year issue.
“We’ve brought it up with President Trump,” Sen. John Barrasso, Republican of Wyoming, said last summer. And Trump “has talked about it being a second-term project.” And as recently as last month when he attended the World Economic Forum in Davos, Switzerland, the president was asked if he would ever consider cutting entitlements. Trump’s response: “At some point they will be.
That debate aside, the numbers do show that spending on the “big three”—Social Security , Medicare and Medicaid —will be approximately $2.19 trillion in 2020, nearly three times more than defense spending .It’s also true that spending on Social Security, Medicare and Medicaid is soaring, as an estimated 10,000 baby boomers retire each day, a trend that is expected to continue through 2029.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump's election year budget proposal slashes Medicaid, other social safety netsPresident Trump unveils $4.8T election-year budget plan that recycles previously rejected cuts to domestic programs like food stamps and Medicaid, while leaving Social Security and Medicare benefits untouched.
Read more »
Trump's New Budget Goes After Social Safety Net ProgramsThe budget calls for cuts to Medicaid and food stamps while asking tax-payers to pay billions for the president’s wall
Read more »
President Trump releases 2021 budget proposal, calls for cuts to social safety net programsPres. Trump unveils a $4.8 trillion budget that seeks to balance the budget in 15 years, falling short of the the traditional GOP target of doing so over 10 years.
Read more »
Trump to propose sweeping cuts to foreign aid, safety net programs in latest budgetPresident Trump will propose slashing social safety net programs and a 21% cut in foreign aid in his 2021 budget proposal on Monday, senior admin. officials say.
Read more »
Trump Proposes Massive Cuts to Safety Net Once AgainLast week, Trump told the nation, 'We will always protect your Medicare and your Social Security.' That message was not part of his budget proposal for fiscal year 2021.
Read more »