Tuesday, February 28, 2017

Likely Winners and Losers in Trump Budget Proposal

You can read a detailed budget analysis in many places, including this one from Ronald Brownstein in The Atlantic (one of my favorite sources for news and commentary). But I know you're busy, so here's a quick take on likely winners and losers.

Defense contractors
Older white Americans (4/5 of seniors today are white)

Younger generations and minorities (47 percent of Americans under 30 are minorities)
Poor people
People with disabilities
National debt -- more spending and lower taxes = more debt
The environment

The president's budget proposal protects Social Security and Medicare but slashes other domestic programs that represent important investments in our future, like education, training, and scientific research. As Brownstein points out, "In the long run, the older white population needs more of the younger non-white population to obtain the skills to reach the middle class -- and pay the payroll taxes that support the federal retirement programs on which those graying whites depend." Or in other words, "There is no financial security for the gray without economic opportunity for the brown." (A point Brownstein makes in his excellent article "Why Trump Has It Backwards on Minority Groups.")

For more budget details, read "Trump's Budget Proposal Threatens Democratic and Republican Ambitions."

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