House GOP releases $1.1 trillion budget that could reduce the deficit by $15 billion in 2018
The House budget committee unveiled a budget plan for the next fiscal year that would potentially cut $203 billion in mandatory spending and seek to balance the budget in roughly a decade, and the budget panel predicts the deficit could “turn into a $9 billion surplus by 2027”.
The $1.132 trillion budget includes $621.5 billion for defense, a significant increase over both current levels and those proposed by President Trump. It contains $511 billion for nondefense discretionary spending, a cut from current spending but higher than Trump’s request.
It also includes $87 billion in spending for the global war on terror, though this funding is not subject to budget caps.
The Budget panel says its blueprint would reduce the deficit by $15 billion in 2018 and projects that the deficit would turn into a $9 billion surplus by 2027.
Right now, every child born in America already owes over $56,000 and our national debt it over $17 trillion now. Allowing Washington to borrow more money from taxpayers that it cannot pay back is unacceptable! Click here to implement the Penny Plan that will help balance the budget in 12 years and restore sustainable economic growth!