According to the budget presented to the House and the Senate, there are necessary cuts that have been proposed by President Trump. Reduction of funding for the Environmental Protection Agency, Abolition of Obamacare and also reduce the spending on the nutritional assistance for the needy families (CBPP. 2019). Economists have projected its likelihood to help boost economic growth as well as revamp some of the critical economic variables.
According to the US 2017 Budget Process and Budget Proposals, the Senate and the House are leaning much towards the budget by the president and not much on the progressive caucus (CBPP. 2019). The budget has made some of the constructive recommendations in a bid to ensure that there are critical cuts within the budget and the reduction of the spending to spur the economic growth for the Americans. From the video, it is evident that budget making is a process that requires all the stakeholders’ input to ensure that every vital element of the budget is addressed.
In 2017, about 7% of the national budget of the United States was used in paying of national debt according to “Policy Basics” Where Do Our Federal Tax Dollars Go” (2019). The expenditure on the debt was much more as compared to the expenditure in science, technology and agriculture (CBPP. 2019). This is very frustrating considering that citizens pay taxes for the effective and efficient service delivery as well as for the economic development. Surprisingly majority of the tax dollars go into servicing of the national debt in the United States, funds which would otherwise be used for development purposes as well as in enhancing economic growth and development.
I would like the government to reintroduce the Obamacare as this was one of the promising healthcare insurance policies which was a comprehensive policy. Cutting the expenditure on Obamacare from the budget is regrettable as the health of a nation depends on the investments that they make in the health sector
CBPP. (2019, January 29). Policy Basics: Where Do Our Federal Tax Dollars Go? Retrieved March 1, 2019, from https://www.cbpp.org/research/federal-budget/policy-basics-where-do-our-federal-tax-dollars-go
Response to Kim
Hello Kim, there are fundamental shifts in the budget as well as key cuts that have been done under Trump’s administration key of which is the reduction for the budgets for the Environmental Protection Agency. I agree that the President is also likely to reduce Medical and Children’s Health Insurance Program. Trump also wishes to repeal Obamacare as well as make various changes to the retirement benefits and other domestic programs. This would however lead to an increase in the Pentagon budget. Trump however believes that creation of the economic growth is likely to expand the workforce. The individualistic view of any social problem is that individuals often make very poor choices. Key budget cuts are deemed as critical in ensuring that funds have been saved for other development projects. However some of the insurance programs that are run by the government should be considered as key and crucial and therefore the budgetary cuts need to be reviewed.
I agree with the assertions that the progressive caucus has several plans of increasing on the domestic spending and the creation of additional jobs through various projects. With key budget cuts, it will thus be possible to determine some essential elements as well as channel the other amounts into other budgetary allocation functions.
My take on the huge national expenditure is that the government needs to regulate on its external borrowing policies so as to ensure that the interest rates are manageable. Interests running into $263 billion representing 7% of the budget is quite a sum of money considering there are a lot of infrastructure projects as well as key services that are needed by the people of America. Just to back you up Kim, I agree that there is need for changing the state budget for money that is allocated to pensions.