The disastrous budget presented by Mr. Trump
The present government of the United States is not made up of typical politicians, but formed by wealthy businessmen whose total wealth adds up to a third of the American people’s.
Powerful businessmen.- Who have the same idea of government – lower taxes on people and businesses as well as cutbacks on spending for the underprivileged. As a result, this government of wealthy businessmen present a budget called “A Budget Blueprint to Make America Great Again”. This $1,15 billion dollar budget increases defense spending ($603,000 million ) and at the same time cuts back on social aid by $65,100 million dollars. When it comes to revenue, personal taxes are lowered as well as those taxes on inheritance and corporations. Revenue is expected to be compensated by an increase in the GDP. In other words, American companies abroad are expected to return to the States and create jobs. If there is no growth, what will happen is that there will be an increase in the deficit and public debt. This is exactly what happened during President Reagan’s term in office. He put the country in debt for over 25 years. This is a budget that must be passed by Congress in order to go into effect. The Republicans dominate both chambers, Congress and the Senate.
Will Republicans be willing to reject the budget?
The 2018 United States Federal Budget.- When it comes to revenue, Mr. Trump has said it is the biggest decrease in history, due to lower taxes on personal income and on corporations. However, it states in the budget that that $300,000 million dollars are expected to be collected. Inheritance tax will be eliminated, which will benefit a very limited number of wealthy people. In addition, the charges for Obamacare will be eliminated.
As for spending, more money will be spent on Defense and Security, whereas social spending, such as Obamacare will be replaced by Trumpcare, which will negatively affect the elderly, the sick and the poor sectors of the American people. Medicare is to be eliminated and Medicaid, which provides health care for the poor, will undergo cutbacks. Not only will food stamps for 46 million people be affected by cutbacks, but also services for the disabled in addition to student loans.
Mr. Trump looks down on his voters. He promised not to cut back on social aid or health care for the poor, assuring all Americans they would have insurance in order to get their votes. These people believed him. Now the Congressional Budget Office claims that 23 million people will lose their health insurance on account of the cutbacks in Medicaid and the huge increase, around 750% in insurance policies for those lower income families without any right to Medicaid.
Trump also promised well paid jobs in industry as well as taking away help for other groups with the exception of white workers. However, if there is not an increase in growth, the number of jobs in healthcare is likely to drop, especially with the elimination of Obamacare and any assistance for the disabled. According to the economist Paul Krugman, “This is a fraudulent budget because it includes $2 billion dollars in savings.” “Those who voted for Trump are victims of an epic fraud.”
The Republican Party.- Republican Congressmen, financed by powerful families, are conservative, united and loyal to the Party. They make up a defense group to lower taxes on the wealthy and are defended by the neoliberal right-wing press. Republican voters cast their ballot for the Republican Party despite the Party’s unwillingness to back Trump. Yet the voters knew that Mr. Trump was not politically prepared and thought he might even be corrupt. Among other things, they see how he makes his family rich and how his businesses are not straightforward. What’s more, he fails to publish his tax returns and seems more inclined to deal with Putin. Also to be taken into account is the money spent on his Florida home and that spent on protecting is wife in New York, which turns out to be quite a great deal of spending. The only control on the President is Congress, which is dominated by Republicans and they are not going to call on Mr. Trump to testify in the Putin affair or concerning many of the things he has done up to now. As the Nobel Prize-winning economist, Krugman says, “The impeachment process should already be underway.”
