"The president believes that we must restore the greatness of our nation and reject the failed status quo that has left the American dream out of reach for too many families", the administration said in its budget which was titled, "The New Foundation for American Greatness".
To make matters even worse, Trump's budget also goes after a program that has long enjoyed bipartisan support, the Children's Health Insurance Program (CHIP), as it cuts approximately $6 billion from that program. Many Democrats have also opposed the steep cuts to non-defense discretionary spending in the budget.
The President's first major budget proposal, which assumes the Medicaid savings in the Affordable Health Care Act (AHCA) will be passed, would make $800 billion in cuts to Medicaid over the next decade. Social Security's trust funds are projected to run dry in 2034 and Medicare's is projected to run out of money in 2028.
Mulvaney argued the administration considered how various policies and deregulatory measures would help increase economic output, lifting the revenue base and helping to achieve a balanced budget. The proposal is laced with $3.6 trillion in cuts to domestic agencies, food stamps, Medicaid, highway funding, crop insurance and medical research, among others.
Rather than criticize the budget, the Wisconsin conservative sought to paint a rosier picture, insisting that there were elements of the proposal that all Republicans could get behind. "And it is not an honest attempt at balancing our budget".
Another senior Republican lawmaker, Fred Upton of MI, questioned inclusion of money for Trump's border wall, remarking: "I thought Mexico was going to pay for the wall, why is this in our budget?" Ryan sidestepped a question on whether the economic assumptions that allow the balance to budget were realistic, but praised the administration for embracing the goal of economic growth.
Furman also says it's been almost a decade since the last recession, and just about every economist believes another is inevitable over the next decade. The president's budget calls for limiting current eligibility to receive subsidies for buying food, as well as some new work requirements to receive help.
He also describes the president's recommendations as a "message budget to the right wing of the party". The program presently serves about 42 million people.
Republicans are under pressure to deliver on promised tax cuts, the cornerstone of the Trump administration›s pro-business economic agenda, which would cut the business tax rate to 15 percent from 35 percent, and reduce the number of personal tax brackets.
Still, the proposal is seen by some analysts, and some members of Congress, as a sign that USA soft power is being sacrificed at the expense of a huge rise in military spending.
They predict a deep cut in taxes for businesses will help the economy grow at a 3 percent rate, ultimately balancing the budget by 2027.
Senate Democratic Leader Charles Schumer has called for $1 trillion in public investments over that period, a level Trump has at times embraced.
The Pentagon would get a spending hike, and there would be a US$1.6 billion down payment to begin building a wall along the border with Mexico, which was a central promise of Trump's presidential campaign.
President Trump's 2018 budget, released Tuesday, proposes balancing the budget by cutting $1.74 trillion from social safety net programs and Medicaid and overhauling the tax code and regulatory framework, and it sets an economic growth target of three percent.
Mulvaney, who probably didn't know he was being interrogated by Sputnik, argued back, saying that Feinberg wasn't duly considering taxpayers and that "we have all kinds of other programs" for poor kids.