Trump's high
WASHINGTON (AP) —  President Donald Trump  unveiled a $4.4 trillion budget plan Monday that envisions steep cuts to America's social safety net but mounting spending on the military  formally retreating from last year's promises to balance the federal budget.
 The president 's spending outline for the first time acknowledges that the Republican tax overhaul passed last year would add billions to the deficit and not "pay for itself" as  Trump  and  his  Republican allies asserted. If enacted as proposed  though no presidential budget ever is  the plan would establish an era of $1 trillion-plus yearly deficits.
The open embrace of red ink is a remarkable public reversal for  Trump  and  his  party  which spent years objecting to President Barack Obama's increased spending during the depths of the Great Recession. Rhetoric aside  however   Trump 's pattern is in line with past Republican presidents who have overseen spikes in deficits as they simultaneously increased military spending and cut taxes.
"We're going to have the strongest military we've ever had  by far "  Trump  said in an Oval Office appearance Monday. "In this budget we took care of the military like it's never been taken care of before."
 Trump 's budget revived  his  calls for big cuts to domestic programs that benefit the poor and middle class  such as food stamps  housing subsidies and student loans. Retirement benefits would remain mostly untouched by  Trump 's plan  as  he  has pledged  though Medicare providers would absorb about $500 billion in cuts — a nearly 6 percent reduction. Some beneficiaries in Social Security's disability program would have to re-enter the workforce under proposed changes to eligibility rules.
While all presidents' budgets are essentially dead on arrival — Congress writes and enacts its own spending legislation —  Trump 's plan was dead before it landed. It came just three days after the president signed a bipartisan agreement that set broad parameters for spending over the next two years. That deal  which includes large increases for domestic programs  rendered Monday's  Trump  plan for 10-year  $1.7 trillion cuts to domestic agencies such as the departments of Health and Human Services  Agriculture and Housing and Urban Development even more unrealistic.
But after his aides talked up that plan over the weekend   Trump  suggested that  his  infrastructure proposal wasn't a big deal for  him .
"If for any reason   they  don't want to support to it  hey  that's going to be up to  them  "  he  said of the Republican-controlled Congress. "What was very important to  me  was the military; what was very important to  me  was the tax cuts."
 Trump  also is proposing work requirements for several federal programs  including housing subsidies  food stamps and Medicaid. Such ideas have backing from powerful figures in Congress including Republican House Speaker Paul Ryan of Wisconsin  who promises action on a "workforce development" agenda this year.
"The  Trump  budget proposal makes clear  his  desire to enact massive cuts to health care  anti-poverty programs and investments in economic growth to blunt the deficit-exploding impact of  his  tax cuts for millionaires and corporations " said Rep. John Yarmuth of Kentucky  the top Democrat on the House Budget Committee.
All told  the new budget sees accumulating deficits of $7.2 trillion over the coming decade;  Trump 's plan last year projected a 10-year shortfall of $3.2 trillion. And that's assuming Trump's rosy economic predictions come true and Congress follows through — in an election year — with politically toxic cuts to social programs  farm subsidies and Medicare providers.
Last year  Trump 's budget promised such ideas could generate a small budget surplus by 2027; now  his best-case scenario is for a $450 billion deficit that year  more than $300 billion of which can be traced to his December tax cut.
Instead   Trump 's budget projects that tax revenues will plummet by $3.7 trillion over the 2018-27 decade relative to last year's "baseline" estimates.
The budget also includes $1.6 billion for the second stage of  Trump 's proposed border wall  a 65-mile segment in Texas' Rio Grande Valley.  Trump 's request last year for 74 miles of wall in San Diego and the Rio Grande Valley is pending before lawmakers right now.
Once again  there's no mention of how Mexico would have to pay for it  as  Trump  repeatedly promised during the presidential campaign and after  his  victory.
 Trump 's plan promises 3 percent growth for the nation's economy  continuing low inflation and low interest yields on U.S. Treasury bills despite a flood of new borrowing. That likely underestimates the mounting cost of financing the government's $20 trillion-plus debt  many economists say.
WASHINGTON (AP) —  [TGT]unveiled a $4.4 trillion budget plan Monday that envisions steep cuts to America's social safety net but mounting spending on the military  formally retreating from last year's promises to balance the federal budget.
 [TGT] 's spending outline for the first time acknowledges that the Republican tax overhaul passed last year would add billions to the deficit and not "pay for itself" as  [TGT]and  his  Republican allies asserted. If enacted as proposed  though no presidential budget ever is  the plan would establish an era of $1 trillion-plus yearly deficits.
The open embrace of red ink is a remarkable public reversal for  [TGT]and  his  party  which spent years objecting to President Barack Obama's increased spending during the depths of the Great Recession. Rhetoric aside  however   Trump 's pattern is in line with past Republican presidents who have overseen spikes in deficits as they simultaneously increased military spending and cut taxes.
"We're going to have the strongest military we've ever had  by far "  [TGT]said in an Oval Office appearance Monday. "In this budget we took care of the military like it's never been taken care of before."
 [TGT] 's budget revived  [TGT]  calls for big cuts to domestic programs that benefit the poor and middle class  such as food stamps  housing subsidies and student loans. Retirement benefits would remain mostly untouched by  [TGT] 's plan  as  [TGT]  has pledged  though Medicare providers would absorb about $500 billion in cuts — a nearly 6 percent reduction. Some beneficiaries in Social Security's disability program would have to re-enter the workforce under proposed changes to eligibility rules.
While all presidents' budgets are essentially dead on arrival — Congress writes and enacts its own spending legislation —  [TGT] 's plan was dead before it landed. It came just three days after the president signed a bipartisan agreement that set broad parameters for spending over the next two years. That deal  which includes large increases for domestic programs  rendered Monday's  [TGT]  plan for 10-year  $1.7 trillion cuts to domestic agencies such as the departments of Health and Human Services  Agriculture and Housing and Urban Development even more unrealistic.
But after his aides talked up that plan over the weekend   [TGT]suggested that  his  infrastructure proposal wasn't a big deal for  him .
"If for any reason   they  don't want to support to it  hey  that's going to be up to  them  "  he  said of the Republican-controlled Congress. "What was very important to  me  was the military; what was very important to  me  was the tax cuts."
 [TGT]also is proposing work requirements for several federal programs  including housing subsidies  food stamps and Medicaid. Such ideas have backing from powerful figures in Congress including Republican House Speaker Paul Ryan of Wisconsin  who promises action on a "workforce development" agenda this year.
"The  [TGT]budget proposal makes clear  his  desire to enact massive cuts to health care  anti-poverty programs and investments in economic growth to blunt the deficit-exploding impact of  his  tax cuts for millionaires and corporations " said Rep. John Yarmuth of Kentucky  the top Democrat on the House Budget Committee.
All told  the new budget sees accumulating deficits of $7.2 trillion over the coming decade;  Trump 's plan last year projected a 10-year shortfall of $3.2 trillion. And that's assuming Trump's rosy economic predictions come true and Congress follows through — in an election year — with politically toxic cuts to social programs  farm subsidies and Medicare providers.
Last year  Trump 's budget promised such ideas could generate a small budget surplus by 2027; now  his best-case scenario is for a $450 billion deficit that year  more than $300 billion of which can be traced to his December tax cut.
Instead   [TGT] 's budget projects that tax revenues will plummet by $3.7 trillion over the 2018-27 decade relative to last year's "baseline" estimates.
The budget also includes $1.6 billion for the second stage of  Trump 's proposed border wall  a 65-mile segment in Texas' Rio Grande Valley.  [TGT] 's request last year for 74 miles of wall in San Diego and the Rio Grande Valley is pending before lawmakers right now.
Once again  there's no mention of how Mexico would have to pay for it  as  [TGT]  repeatedly promised during the presidential campaign and after  [TGT]  victory.
 [TGT] 's plan promises 3 percent growth for the nation's economy  continuing low inflation and low interest yields on U.S. Treasury bills despite a flood of new borrowing. That likely underestimates the mounting cost of financing the government's $20 trillion-plus debt  many economists say.