President Trump Releases $4.8 Trillion Budget Proposal For 2021

Production Of President Trump's Fiscal Year 2021 Budget

Production Of President Trump's Fiscal Year 2021 Budget

President Donald Trump's 2021 budget proposal will make significant cuts to entitlement programs like Medicaid and Medicare, and discretionary spending while balancing the budget in 15 years.

The $4.8 trillion budget calls for a five percent cut to non-defense agency budgets and $700 billion in cuts to Medicaid over ten years. The cuts are not designed to impact recipients directly, and will instead focus on how the government pays hospitals and other healthcare providers.

The budget does call for a 0.3% increase in spending for the military. Homeland Security's budget would be increased by 3.2%, while the Veterans Affairs budget would be 14% higher. NASA would also see an increase, with a 12% boost in funding.

The budget also calls for $2 billion to continue building a wall along the southern border with Mexico.

"It balances the budget in 15 years, has more deficit reduction, $4.6 trillion, than any president's budget in history," acting White House budget director Russ Vought told Fox News. "It continues to do everything we can to deal with the trillion-dollar deficits that we're seeing as a result of Congress ignoring the president's spending reductions over the first three years."

The budget is not expected to pass Congress. It is seen as a reflection of the president's priorities and serves as a starting point for negotiations between the White House and Congress.

Photo: Getty Images

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