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You are here News Politics The Latest: Trump's $4.4T budget features soaring deficits

The Latest: Trump's $4.4T budget features soaring deficits

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Trump budget has $4.4 trillion deficit

President Donald Trump is sending Congress a $4.4 trillion spending plan that provides a huge increase in defense spending while cutting taxes by $1.5 trillion over the next decade. The result is soaring budget deficits.

Trump's first budget last year projected that the government would achieve a small surplus by 2027. But the new budget never gets to balance. It proposes $7.1 trillion in red ink over the next decade, basically doubling last year's forecast.

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