Trump budget cuts $1 trillion from Medicaid, Affordable Care Act

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Trump budget cuts $1 trillion from Medicaid, Affordable Care Act

por Thomas Dworetzky, Contributing Reporter | February 12, 2020
Business Affairs

“The administration said in a statement that part of the spending plan involves 'shrinking the federal government to its proper size' by calling for overall reductions of about 2%,” stated the conservative-leaning Washington Times, adding, however, that, in fact, “deficits have risen each year under Mr. Trump,” and noting that when Mr. Obama ended his administration, the annual deficit “was down to about $585 billion after three consecutive $1 trillion deficits at the start of his presidency,” during the height of the financial crisis.

Under President Trump the deficit has hit “$665 billion in fiscal 2017. It climbed to $779 billion in fiscal 2018, which was 3.8% of gross domestic product. In 2019, it rose to $984 billion.” It has widened, in the face of massive tax cuts enacted over Democratic objections, to $356.6 billion so far in fiscal 2020 and is set to “exceed $1 trillion by the end of the year,” according to the publication.

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The present fiscal 2021 administration proposal would slightly reduce that “deficit to $966 billion next year and eliminate annual deficits by 2035,” a senior administration official told the paper.

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