President Trump will today propose a $ 4.8 trillion budget plan that will increase defense and space spending, but will drastically limit most social security programs. And while his plan proposed to cut more than $ 4 trillion in spending over the next ten years, budget deficits would continue for the next 15 years.
As Democrats prepare for the New Hampshire primaries, they compete with a large number of new spending programs and with little apparent concern about the budgetary implications.
With the longest economic expansion in history and unemployment at historic lows, it would now normally be time to tighten your belt. But tight belts have paved the way for cross-party backroom deals. In today's era of polarized politics, it's a good bet that we'll see a trillion-dollar deficit in the coming years.
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