Sunday / October 14.
HomeInvestingDetails Emerge From Trump's Budget: $54BN Boost To Defense, Big Cuts To Foreign Aid, Federal Agencies

Details Emerge From Trump's Budget: $54BN Boost To Defense, Big Cuts To Foreign Aid, Federal Agencies

As observed earlier in the day, as part of the leaked preliminary Trump budget, the president was set to unveil major spending increases in the US defense budget, offset by cuts to federal agencies, and other non-defense sectors. Moments ago, the first details emerged, including that the boost to defense spending is expected to be $54 billion, but will be revenue neutral, offset by cuts in non-defense areas, and will not “add a dime to the deficit.”

  • WHITE HOUSE SEEKS $54B INCREASE IN DEFENSE SPENDING
  • WHITE HOUSE TO SEEK CORRESPONDING CUTS OF $54B IN NON-DEFENSE
  • WHITE HOUSE TO SEEK LARGE SPENDING CUTS IN FOREIGN AID
  • WHITE HOUSE: MOST AGENCIES WILL SEE FUNDING REDUCTIONS
  • WHITE HOUSE: MANDATORY, TAX PROPOSALS TO BE RELEASED LATER
  • NEW U.S. TRAVEL ORDER SAID TENTATIVELY PLANNED FOR WEDNESDAY

The punchline: according to the White House, the budget, at least as it stands right now, won’t add a dime to the deficit, suggesting that if only for the time being, the dramatic debt-funded spending spree remains on hold.

Source link