Trump’s budget proposes deep cuts to social safety nets

Omkar Godbole FXStreet Contributor

President Trump plans to unveil on Tuesday a $4.1 trillion budget for 2018 that would cut deeply into programs for the poor.

Key points

White House aims to cut $38 bln from farm bill programs and crop insurance subsidies from 2018-2027 -president's budget

White House plan calls for annual $600 mln in user fees used to pay for usda meat, poultry inspectors -president's budget

White House sees 10-year Treasury note averaging 2.7 pct in 2017, 3.3 pct in 2018, 3.4 pct in 2019

White House sees 3-month Treasury bill rate averaging 0.8 pct in 2017, 1.5 pct in 2018, 2.1 pct in 2019

White House sees US Jobless rate averaging 4.6 pct in 2017, 4.4 pct in 2018, 4.6 pct in 2019

White House proposes cutting $46.54 bln in federal government spending to agriculture sector over next 10 years -president's budget

White House sees US Cpi increasing 2.6 pct in 2017, 2.3 pct in 2018, 2.3 pct in 2019 (year-over-year)

Trump White House sees gdp growing 3.0 pct year-on -year starting in 2021

Trump White House sees US Real gdp growth at 2.3 pct in 2017, 2.4 pct in 2018, 2.7 pct in 2019 (year-over-year)

White House budget proposal would raise $1.8 bln by opening artcic national wildlife refuge to oil drilling

White House budget proposal would raise $16.5 bln by selling half of US Strategic petroleum reserve by 2027

Trump budget forecasts 10-year deficit of $3.150 trln vs cbo current-law estimate of $9.426 trln

Trump budget proposes fy 2018 outlays of $4.094 trln, or 20.5 pct of gdp; receipts of $3.654 trln, or 18.3 pct of gdp

Trump budget plan forecasts US Fy 2017 deficit at $603 bln, fy 2018 deficit at $440 bln

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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