What happened to the great dealmaker?
Early in his administration, President Trump signed a spending bill that vastly increased both military and domestic spending, since the former was being held hostage by Democrats so they could get the latter. And, he felt, we needed the military spending increase after Barack Obama had depleted the military’s coffer’s.
Trump said he’d never do it again. He just did.
I cannot believe that the military budget can’t be trimmed of waste in order to make way for lower spending increases. The military-industrial complex certainly has something it can give away.
But no, we’ll keep passing the bill to our children and grandchildren. And the problem could develop sooner. Where do we get the money to cover our bills for the next major crisis while we continue will
Trump knew what he was doing when he gave the budget deal to Treasury Secretary Mnuchin to negotiate. Mnuchin is no conservative. White House Chief of Staff Mick Mulvaney, a supposed budget hawk, is the big loser here.
As are the rest of us.
According to the New York Times:
White House and congressional negotiators reached accord on a two-year budget on Monday that would raise spending caps and lift the government’s debt ceiling, likely averting a fiscal crisis but splashing still more red ink on an already surging deficit.
If passed by Congress and signed by President Trump, the deal would stop a potential debt default this fall and avoid automatic spending cuts next year. The agreement would also bring clarity about government spending over the rest of Mr. Trump’s term.
I am pleased to announce that a deal has been struck with Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, Speaker of the House Nancy Pelosi, and House Minority Leader Kevin McCarthy – on a two-year Budget and Debt Ceiling, with no poison pills
….This was a real compromise in order to give another big victory to our Great Military and Vets!— Donald J. Trump (@realDonaldTrump) July 22, 2019
“It’s pretty clear that both houses of Congress and both parties have become big spenders, and Congress is no longer concerned about the extent of the budget deficits or the debt they add,” said David M. McIntosh, president of the Club for Growth, a conservative group that advocates for free-enterprise.
The agreement, struck by Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin, would raise spending by $320 billion, compared to the strict spending levels established in the 2011 Budget Control Act and set to go into effect next year without legislative action. Spending on domestic and military programs would increase equally, a key demand of Ms. Pelosi, offset by about $75 billion in spending cuts, far lower than the $150 billion in cuts that some White House officials initially demanded.
The deal would lift the debt ceiling high enough to allow the government to keep borrowing for two more years, punting the next showdown past the 2020 elections. The negotiators hope to enact the accord before Congress leaves for its August recess.