![](\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user245717\/imageroot\/2017\/05\/18\/Trump.JPG\")
<\/a><\/p>\nHere are some of the highlights from the latest batch of trial balloons:<\/p>\n
- \n
- The budget will slash $1.7 trillion in spending on entitlement programs, according to Bloomberg.<\/a><\/li>\n
- Trump\u2019s budget will include a massive nearly $200 billion cut to the Supplemental Nutrition Assistance Program, the modern version of food stamps, over the next 10 years \u2013 what amounts to a 25% reduction, according to The Washington Post.<\/a><\/strong><\/li>\n
- The food stamp cuts are part of a broader $274 billion welfare-reform effort, according to a report by The Associated Press.<\/a><\/li>\n
- The budget calls for about $800 billion in cuts to Medicaid for fiscal year 2018, WaPo reported.<\/li>\n
- The budget also calls for $2.6 billion in border security spending, $1.6 billion of which will be earmarked for Trump\u2019s proposed wall along the U.S.\u2019s southern border.<\/li>\n
- The budget is also expected to propose major domestic discretionary spending cuts – an earlier version of the budget called for $54 billion in such cuts next year alone.<\/li>\n<\/ul>\n
Predictably, Democrats are already up in arms over the proposal, even though a formal draft isn\u2019t expected until Tuesday.<\/p>\n
In a statement cited by Bloomberg, New York Senator Senator Chuck Schumer clumsily compared Trump\u2019s campaign rhetoric to a \u201cTrojan Horse.\u201d<\/p>\n
\u201cThis budget continues to reveal President Trump\u2019s true colors: His populist campaign rhetoric was just a Trojan horse to execute long-held, hard-right policies that benefit the ultra-wealthy at the expense of the middle class,\u201d Bloomberg noted.<\/p><\/blockquote>\n
Well, at least Trump didn’t promise that if Americans liked their healthcare plan, they can keep it.<\/p>\n
To be sure, Republicans have also expressed some discomfort with the cuts, particularly Trump\u2019s plan to whack $54 billion in discretionary spending. Mitch McConnell even told Bloomberg that Congressional Republicans would ultimately end up writing their own budget, the same way Senate Republicans are rewriting Obamacare repeal.<\/p>\n
Trump has promised to balance the federal government\u2019s budget in 10 years, though, as Democrats have noted, the projection is dependent on economic growth accelerating to 3% following the passage of massive tax cuts, and no recession over the next decade, a rather bold assumption. Meanwhile, growth collapsed to an annualized rate of just 0.7% in the fist quarter, the slowest rate in three years, <\/a>while loan demand has plunged to the lowest level in 6 years. Meanwhile, the Committee for a Responsible Federal Budget claims that rather than reining it in our national debt, Trump’s tax cuts would make the debt much worse.<\/a><\/p>\n
- Trump\u2019s budget will include a massive nearly $200 billion cut to the Supplemental Nutrition Assistance Program, the modern version of food stamps, over the next 10 years \u2013 what amounts to a 25% reduction, according to The Washington Post.<\/a><\/strong><\/li>\n