In exchange for putting off the debt ceiling for two years, Trump agreed to eliminate the discretionary spending sequester—automatic spending cuts authorized in 2011 but continually nullified in the ensuing decade—which translates into $320 billion in new spending. This increase is partially offset by the extension of some customs fees and Medicare reimbursement caps that maintain the status quo.
“No politician (has) ever lost office for spending more money.” Donald Trump reportedly relayed this message from Mitch McConnell to his staff recently, and you can see that philosophy at work in the two-year budget deal he just struck with Congress.
In exchange for putting off the debt ceiling for two years, Trump agreed to eliminate the discretionary spending sequester—automatic spending cuts authorized in 2011 but continually nullified in the ensuing decade—which translates into $320 billion in new spending. This increase is partially offset by the extension of some customs fees and Medicare reimbursement caps that maintain the status quo.
View the complete July 27 article by David Dayen on the National Memo website here.