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Monday, May 22, 2017

Trump's Budget Will Slash $1.7 Trillion In Entitlements, Cut Food Stamps By 25%

More details from President Donald Trump’s first budget proposal are trickling out via a flurry of overnight reports from The Washington Post, Associated Press and Bloomberg News.
Here are some of the highlights from the latest batch of trial balloons:
  • The budget will slash $1.7 trillion in spending on entitlement programs, according to Bloomberg.
  • Trump’s 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 – what amounts to a 25% reduction, according to The Washington Post.
  • The food stamp cuts are part of a broader $274 billion welfare-reform effort, according to a report by The Associated Press.
  • The budget calls for about $800 billion in cuts to Medicaid for fiscal year 2018, WaPo reported.
  • The budget also calls for $2.6 billion in border security spending, $1.6 billion of which will be earmarked for Trump’s proposed wall along the U.S.’s southern border.
  • 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.  

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