Washington:US President Donald Trump presented to Congress a budget proposal for fiscal year 2020 that contained stiff spending cuts across non-defence federal agencies and a hike in defence money.
According to the USD 4.7 trillion budget proposal, the Trump administration reportedly plans to cut domestic spending by 5 percent over the next year, or a nearly USD 30-billion-dollar, involving programs on education, health care and environment protection, among others.
The budget blueprint proposes a USD 2.7 trillion spending cuts over the next decade, including USD 1.9 trillion in cuts to mandatory programmes, a senior administration official told a briefing on Monday. The official said that the budget "will have more reductions in spending than any president in history has even proposed."
The budget plan foresees a USD 1.1 trillion deficit in 2019, 2020 and 2021 and a 1-trillion-dollar deficit in 2022. The administration predicts that the United States will return to budget balance in 2034.