Sanford told Mulvaney that the budget "assumes that the stars perfectly align" by promising an economic growth rate of 3 percent but that such an economic surge wouldn't increase inflation and bond yields. In his introductory message in the budget, Trump wrote that "to unleash the power of American work and creativity - and drive opportunity and faster economic growth - we must reprioritize Federal spending so that it advances the safety and security of the American people".
A day after releasing a budget that would dramatically slash the social safety net, President Trump's top budget official faced a bipartisan backlash on Capitol Hill.
That is due to the criterion defended by the head of the White House that Obama's emphasis on the differences between the rich and the poor was wrong and that the politicians should in turn try to improve the fortune of the Americans.
"We will take a close look at his budget, but Congress is mandated by the Constitution with key spending responsibilities and will ultimately decide what the nation's fiscal priorities will be", Senate Budget Committee Chairman Mike Enzi, R-Wyoming, said. (Maybe they aren't "colluding" after all.) But Trump's budget is such that it leaves this White House's credibility on a par with (or perhaps below) that of a Russian propaganda outfit. The Senate is weighing significant changes to the House plan, but even with changes, Senate passage is uncertain. Its proposed tax cuts for wealthier individuals "come at a huge cost to children, seniors, Idahoans with disabilities, and community investments that benefit all of us", Necochea said. The parties got similar numbers when voters are asked who they trust the most to handle jobs. In other words, more growth means more revenue, and that revenue would offset any initial revenue loss from the tax cuts.
On Capitol Hill, Trump's budget won polite praise from some Republicans, but Democrats were dismissive. "The same money can not be used twice", the CRFB has noted. Without more than $2 trillion in such "economic feedback" over the coming decade, the nation's budget would never reach balance and would run a deficit of nearly $500 billion. The budget says these tax cuts will be revenue-neutral, meaning that growth and income will cover the cost of the lost tax revenue, to the tune of $2 trillion. And you have a 13 percent cut in the Department of Education.
Without that sustained growth, there could be a serious fiscal shortfall caused by Trump's policies.
Trump's reason for not touching any reforms of Social Security or Medicare is that he promised not to on the campaign trail. And don't let the burden of any tax increases or spending cuts fall too hard on any one group, while protecting the vulnerable.
"Every president sends up a budget, and with all due respect to the current president, I can't recall any time in which we have been sort of dictated to by either a Republican or a Democratic president", McConnell said in an interview with The Associated Press.