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FY 2018 Trump Budget: Top 10 Things You Should Know

The Trump Administration released the President's FY 2018 Budget on Tuesday, May 23, launching a contentious and consequential debate over America's priorities.

Most analysts would agree that projected deficits are unsustainable.  Annual federal deficits, under current policies, are projected by the nonpartisan Congressional Budget Office (CBO) to increase from nearly $500 billion in FY 2018, to $1 trillion in 2022, to $1.4 trillion in 2027. Federal debt (owed to the public) is projected to rise from 77% of GDP in 2018 to 89% in 2027, 113% in 2037, and 150% of GDP in 2047; and within 10 years, annual federal interest payments will exceed three-quarters of a trillion dollars.

All of this underscores the need for long-term stabilization of debt as a percent of GDP. However, as explained below, the Trump Budget's claim to balance the Federal budget is based on unrealistic economics, dubious savings, unfunded investments, ignoring trillions in tax cuts, and spending cuts impacting the most vulnerable Americans and those who have fallen on hard times. ...

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About Charles S. Konigsberg and the Federal Budget Group LLC
Charles Konigsberg

Charles Konigsberg, President of the Federal Budget Group and Founder of FedWeb.com, has served as Assistant Director at the White House Office of Management and Budget, General Counsel and minority Chief Health Counsel at Senate Finance Committee, Minority Chief Counsel at Senate Rules Committee, Staff Attorney at Senate Budget Committee, and is Author of America’s Priorities: How the U.S. Government Raises and Spends $3 Trillion Per Year.

2017 Congressional Calendar

(Note: House is in recess numerous Mondays and Fridays; check majorityleader.gov)

  • Jan 3: Congress convenes
  • Jan 16: MLK, HSE recess thru 1/19
  • Jan 20: Inauguration
  • Jan 26-27: HSE recess
  • Feb 9-10: HSE recess
  • Feb 20-24: Pres Day recess
  • Apr 10-21: Easter/Passover recess
  • May 5-15: HSE recess
  • May 29-Jun 2: Mem Day recess
  • Jul 3-7: July 4 recess
  • Jul 31-Sept 4: Summer recess
  • Sept 21-22: Rosh Hashanah recess
  • Col. Day: Oct 9; SEN thru 10/13
  • Oct 16-20: HSE recess
  • Nov 10: Vets Day recess
  • Nov 20-24: Thanksgiving recess
  • Dec. 14/15: Target Adjournment