The budget proposal rolled out by President Trump’s White House on Tuesday may not be perfect—but it’s a significant departure from the red ink of the past 16 years, and it’s one that fiscal conservatives should embrace.
The document is a substantial departure from the fiscal profligacy of the Presidents George W. Bush and Barack Obama. Trump’s budget proposal promotes lifting low-income Americans out of the federal government’s welfare trap and balances the budget within 10 years. It would eliminate 66 wasteful government programs and reduce improper payments.
One of the early criticisms of the budget plan is that it assumes annual economic growth of 3 percent, which would increase tax revenue for the federal government. This cynicism is understandable. The United States has not seen 3 percent growth or higher since 2005. But the approach the Trump administration is taking to reduce regulation and reform the tax code will encourage economic growth, create jobs, and produce higher revenues.