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Over the past few weeks, there has been ongoing heated debate over issues of healthcare and net neutrality. However an often overlooked topic is the federal budget. While definitely not the most exciting of topics, it is arguably one of the most important factors a president has to contend with.
The budget indicates the fiscal future of the country, and in the face of many fiscal crises all around the world from Venezuela in Latin America to Greece in Europe, this is a critical piece of legislation. Trump’s campaign promised a balanced one during the race, but a recent CBO (Congressional Budget Office) analysis indicates that the most recent proposition will fail on this promise. The CBO states that the cumulative debt under the proposition would likely double by 2027. This raises the alarming question of whether the Federal government, under either party, is willing to make the push towards a stronger long term fiscal policy.
The last balanced budget was under the Clinton administration, and since then both president Bush and Obama have overseen massive increases in debt, with the current national debt hovering close to 20 trillion. With proposals from both parties to increase government spending, either on domestic programs by the Democrats, or on the military by the Republicans, a sound fiscal future seems very unlikely.
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