Economics & Economy

Mitchell Hartman

The Trump administration’s proposed 2018 budget calls for deep cuts in non-defense discretionary spending, including a 21 percent reduction for the U.S. Department of Agriculture.

D Gorenstein

In President Trump's budget plan, proposed $1.6 trillion reductions to Medicaid have taken center stage. But tucked into the raft of health care cuts is something that's attracted less attention: cuts for, the website where about 10 million Americans go to shop for insurance.

Last year, President Obama thought needed $2.1 billion to run smoothly. This year, Trump thinks it just needs $1.7 billion.

The federal budget released today is pretty much a fantasy document that will be dead on arrival when it gets to Congress, economists say. But even scaled back, proposed budget cuts to Medicaid, food assistance and other programs for the poor are likely to tear a hole in the safety net the likes of which we haven't seen in years. For many nonprofits and advocacy groups, cuts like that are good for nothing but raising awareness and money.

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The Trump administration in its budget proposes to sell off half of the country's strategic reserve of crude oil. The idea is that putting more than 300 million barrels of energy onto the market could raise more than $16 billion over the course of a decade. Proponents note that the oil market is more open, and the U.S. produces more of its own crude than in the 1970s, when the Strategic Petroleum Reserve was created. As for the thinking behind keeping up a big oil stockpile? We are still very much an oil-dependent nation, and our domestic supply doesn’t meet domestic demand.

The Trump budget’s fuzzy math

May 23, 2017

The Trump administration's budget proposal is coming under fire from economists and tax experts who say it uses some math that just doesn't add up. In short, there’s a roving $2 trillion in it that nobody can really explain.

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