President Donald Trump unveils a $4. 4 trillion budget for next year that heralds an era an $1 trillion-plus federal deficits
WASHINGTON -- President Donald Trump unveiled a $4. 4 trillion budget for next year that heralds an era of $1 trillion-plus federal deficits and - unlike the plan he released last year - never comes close to promising a balanced ledger even after 10 years. 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. The plan also reprises proposals from last year's Trump budget to curb crop insurance costs, cut student loan subsidies, reduce pension benefits for federal workers and cut food stamps, among other proposals.
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