If you think the UniParty attacks upon President Trump are vitriolic now, just wait until President Trump presents his budget proposal to congress; that’s when the UniParty is really going to go bananas, and every crony-conservative pundit and radio talker will simultaneously demand Trump immediately spend more money.
The federal fiscal year runs from October 1st to September 3oth annually. The Budget and Accounting Act of 1921 requires the President to submit his budget request for the upcoming fiscal year no later than the first Monday of February.
However, in the first year of the first term of each administration – congress waives the statutory deadline because so much of the election and campaign is structured around fiscal budget and tax policy. The waiver gives the incoming administration time to construct their budget after the inauguration. Historic reference:
- Year One Bill Clinton budget was delivered on 4/8/93 (66 days past deadline).
- Year One GW Bush budget was delivered on 4/9/01 (63 days past deadline).
- Year One Barack Obama budget was delivered on 5/11/09 (98 days past deadline).
Currently President Trump is in the process of putting his budget together. Heck, the Senate hasn’t even confirmed Trump’s Office of Management and Budget (OMB) Director, Mick ‘Cantalopes‘ Mulvaney.
But one thing is abundantly clear President Trump has already stated his expressed intention to bring the federal budget to balance within his first term.
To comprehend the scope of this budgetary dynamic, consider the first four months of fiscal year 2017 (October 1, 2016 through Jan 31, 2017) which was just announced:
♦ Outlays for the first four months of fiscal year 2017 were $1,243 billion [$1.24 trillion], CBO estimates—$4 billion more than they were during the same period last year.
If not for shifts in the timing of certain payments from October 2016 to September 2016 because October 1 fell on a weekend, outlays would have been $45 billion (or 4 percent) greater.
The Federal Government took in a record $1.08 Trillion, and yet spent $1.24 Trillion.
That’s running a 13% deficit spending rate of $159 billion more than the treasury took in (mostly due to ObamaCare).
Tomorrow, President Trump is meeting with retail CEO’s to discuss economic growth:
[…] The meeting will include Target CEO Brian Cornell, Best Buy CEO Hubert Joly, Gap Inc CEO Art Peck, Autozone Inc CEO William Rhodes, Walgreens Boots Alliance Inc CEO Stefano Pessina, J.C. Penney Company Inc CEO Marvin Ellison, Jo-Ann Stores LLC CEO Jill Soltau and Tractor Supply Co CEO Gregory Sandfort, according to the people familiar with the matter.
This is the first time well-known retail CEOs will descend on Washington as a group to try to make the case that a controversial proposal to tax all imports will raise consumer prices and hurt their businesses.
Their input has more urgency as Trump is finalizing his own tax plan that he plans to unveil in the coming weeks. (read more)
No single issue will lose President Trump more voter support than if he caves on this budget and allows the UniParty to continue deficit spending. Accounting gimmicks are not going to work any longer. The SSI trust funds have been emptied and void. Federal spending to prop up Obamacare is blowing a $1.3 trillion hole in the budget each year, and it’s getting worse.
Those who have lived by scheme and graft amid the DC Swamp are going to fight to keep the spending levels as high as possible; and we can well expect to see the idiots who attend CPAC each year begin to broadcast messages that President Trump must spend more.
Wait for it…
…Some of those who will demand more spending. Watch!