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Trump’s new budget: Make it stick, Mr. President

Conservative Review

Today, the Trump administration released a budget blueprint for fiscal year 2018 that would go a long way toward reducing the growth of some welfare programs, take a hatchet to harmful bureaucracies, and create at least a path to a balanced budget. If the president actually commits to fighting for his budget this time, it will reflect an important recognition that cutting discretionary spending alone is not enough to achieve solvency and that entitlement programs must be reined in. However, it is also a clear reminder that unless Obamacare is actually repealed and the free market is restored, health care will remain a budget albatross, slowing economic growth and reducing revenues.

The budget proposal would slash non-defense spending by roughly $1.5 trillion over a decade while increasing military spending by $500 billion. It would also shave $1.7 trillion off entitlement growth through 2027. Using roughly the same revenue baseline as the CBO (cutting taxes but assuming economic growth compensates for the short-term revenue loss), this budget would balance in 10 years.

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