Washington does not seem worried about the budget deficit


Washington – The federal budget deficit swelled during the president's term Donald Trumpbut few in Washington seem worried.

And even if they did, the political dynamics that decades ago allowed the bipartisan agreements to reduce the deficit disappeared, and was replaced by a bitter partisanism and a chronic dysfunction.

This is the reality that will welcome the new balance of Trump, which will be postponed immediately after landing with a rumble on Monday. Like previous spending projects, the Trump plan for the fiscal year 2020 will propose cuts to many national programs favored by legislators on both sides, but will leave alone politically popular retirement programs such as Medicare and Social Security. .

Washington will probably take months to erase the last remnants of a failed budget agreement for 2011 that would otherwise reduce the $ 71 billion basic Pentagon operations and national agencies and foreign aid of $ 55 billion. The main legislators are pushing for three previous agreements to be repeated in order to use new spending or revenue cuts and to focus on additional spending instead of reducing deficits that are still close to $ 1 trillion.

All this has legislators in a grim state.

"The president does not mind, the Democratic Party leadership does not matter," said former Republican Senator Judd Gregg. "And social networks are on the run."

Trump's balance sheet comes at a time when the latest Treasury Department figures show a 77% deficit increase during the first four months of the fiscal year, driven by a decline in revenues and a steady growth in spending .

Trump's tax cuts in 2017 are largely to blame, along with sharp increases in spending, both for the Pentagon and for national agencies, and for the increase in the federal retirement costs of the baby boomers. The promises that tax reduction would stimulate both economic growth and that most would repay on their own were unfortunately wrong.

However, the next Trump budget will not address any of the major factors behind the growing and intractable deficits that led to US debt of over $ 22 billion. The most surprising cuts proposed – to the operations of the national agencies – were rejected when the Tea Party movement republicans controlled the House of Representatives, and now they face the equally gloomy prospects now that the Democrats are the majority.



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