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by Mike Shedlock,
To pay for his F-upped war, Trump wants cuts in the EPA, Education, Disaster Funding, TSA, Health. Budget lies also needed.
Largest Military Request in Modern History
The Wall Street Journal reports Trump Seeks $1.5 Trillion for Military, the Largest Request in Modern History
President Trump on Friday released a summary of his budget proposal for the 2027 fiscal year, seeking $1.5 trillion in military spending, by far the largest dollar amount in modern history.
The proposal for military spending included $1.1 trillion for the Defense Department for the next fiscal year, as well as another $350 billion for critical munitions, an effort to expand the military industrial base and other matters. Trump promised a $1.5 trillion military request in January, before the U.S. launched large-scale strikes on Iran.
The Pentagon portion of the request includes funding to boost manufacturing of munitions, a priority of Deputy Defense Secretary Steve Feinberg. The Pentagon request calls for buying 34 ships, including funding for a new class of battleship named after Trump and new frigates, both announced last year. In all, the administration wants $65.8 billion for shipbuilding. The defense request also includes money to build the Golden Dome missile shield championed by Trump.
Most By Over $500 Billion!
Proposed Cuts
- Nondefense Spending: A 10% reduction of nondefense spending to about $660 billion in fiscal year 2027, followed by additional cuts in subsequent years.
- Federal Emergency Management Agency: The administration wants forcing states and local governments to address their own disasters.
- Cybersecurity including elections: The administration would cut $707 million from DHS’s cybersecurity agency and end its election security work.
- TSA: Re-privatize the Transportation Security Administration by forcing small airports to hire private security contractors.
- Department of Health and Human Services: A reduction of $15.8 billion or 12.5% from the 2026 enacted level.
Budget Lies Make Up the Difference
- In 2026, the budget estimates the U.S. will take in over $406 billion in tariff revenue, more than double the $194 billion that the government received from tariffs in 2025.
- The budget forecasts that annual tariff revenue will reach $500 billion by 2029.
- In 2026, the Yale Budget Lab estimates that Trump’s current tariffs would bring in just over $171 billion—less than half of the Trump administration’s estimate.
- In 2029, Yale estimates tariff revenue would be $193 billion under current policies, a far cry from the half-trillion that Trump’s team expects.
Trump did not include refunds of tariffs ordered by the International Court of Trade.
And he assumes replacement tariffs will make up any deficits. The problem is the replacement tariffs absolutely will not provide Trump’s nonsensical estimates.
And those tariffs are themselves constitutionally questionable.
Additional Budget Cut Details
My synopsis of cuts was highlights only. Here are additional details.
Sen. Patty Murray, (D., Wash.), said military funding comes at the expense of medical research. “Our national defense budget should not be dictated by a president who is sending servicemembers into harm’s way in reckless foreign wars,” she said.
Midterm Campaign
Wow. What continued (but expected) hubris.
Bear in mind the Golden Dome will easily cost 10 if not 50 times whatever down payment Trump requests. Destroyers named after Trump! Sheesh.
While I sympathize with some nondefense cuts, the package as a whole is fiscally insane.
Expect a midterm Republican washout. I will discuss how big in a post coming up soon.
Trump’s claim of reducing the trade deficit by 78 percent dramatically blows up.
Forgive me for bragging, but I got every justice correct.
There are huge flaws in the Section 122 tariff idea.
Source: https://mishtalk.com
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