Deep Impact: The Administration’s Budget

Image of Asteroid impacting the earth from the film Deep Impact

The Final Countdown

Well, the 2018 budget for the Federal Government is out, and it is a pip. Devastating cuts of $2.5 trillion in programs that support poor and moderate income folks and families, and a total of $4.3 trillion nondefense totals.

Some highlights:

  • A total of $1.9 trillion in healthcare cuts, focused on Medicaid and subsidies and resulting in a Medicaid program that is half the size of the one we have now by 2027.
  • Steady cuts over the decade in job training, housing (a loss of 250,000 housing subsidy vouchers), the end of the energy assistance program that helps people pay their heating bills, etc., etc. resulting in $400 billion in cuts over the decade.
  • $193 billion in cuts in the SNAP program which helps poor people (and many military families) to avoid hunger.
  • A total of $72 billion in cuts from SSI ($9 billion) and SSDI (the rest).
  • $40 billion in cuts to the student loan program
  • $28 billion in cuts to the child tax credit and Earned Income Tax program
  • And much, much more.

While the budget as written will not pass, compromises that get it passed will be devastating as well, since the increases in defense industry sweetheart deals ($54 billion in 2018) will prevent future increases in nondefense programs as effectively as if defense contracts were protected by the weapons those contracts build.

Republican defense hawks are already whining about the weakness of the defense increases.

Winter is coming…….

Center on Budget and Policy Priorities

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