President Trump on Monday unveiled a $4.8 trillion budget proposal that includes spending cuts that would nullify a two-year deal negotiated with Congress last summer.
The new budget for the 2021 fiscal year beginning in October includes $590 billion in non-defense spending and $740.5 billion in defense spending. The total $4.8 trillion figure also anticipates about $3.5 trillion in spending on Social Security, Medicare and other entitlements.
The August deal hammered out by Trump in talks with the House and Senate raised spending for both defense and domestic spending. Continue reading.