The prevailing sentiment which has emerged regarding President Donald Trump’s first budget seems to be befuddlement. Numerous experts and political pundits have argued that it simply doesn’t add up.
The budget calls for a lot of new spending. President Trump’s first budget proposal calls for a $54 billion increase in military spending. He has called on Congress to approve $1 trillion in infrastructure improvements. And the “wall” will cost at least $12 billion.
The President has vowed to repeal and replace the Affordable Care Act in order to save money on healthcare, but according to the nonpartisan Committee for a Responsible Budget this will cost the federal government up to $350 billion. He has also said he will cut taxes in order to stimulate the economy. But his tax plan will result in further deficits. And finally, President Trump has promised not to cut entitlement programs.
Donald Trump has promised to cut spending in order to decrease the national debt. Yet most analysis of the President’s rough budget concludes it will do neither.
But perhaps criticism of a budget which has yet to be fully completed or announced should be tempered. Budgeting is hard. Especially when it becomes political, which is kind of the nature of the thing.
What is the best way forward to meet all your goals and promises while also attempting to maintain a budget which is in the best long-term interests of the United States? This process regularly stymies politicians, but now you too can try your hand.
The interactive game The Fiscal Ship
challenges you to put the federal budget on a sustainable course…Your mission is to pick from a menu of tax and spending options to reduce the debt from projected levels over the next 25 years…To win the game, you need to find a combination of policies that match your values and priorities AND set the budget on a sustainable course.
Budgeting is difficult and time-consuming, but it really sucks you in. Check it out and try your hand.
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