After a nine hour government shutdown last week, Congress extended government funding through March 23 and (drumroll) passed a budget that will take us through 2019. The bill will cost $320 billion [erased a chunk] (remember when the GOP were deficit hawks?) and thanks to the glories of Trump and the GOP's tax plan, much of the spending comes without additional revenue. That means this budget will add about $20 trillion to the national debt overall, which is a common strategy in a recession but a really unusual move in the boom times. Fun times ahead, eh?
Anywho, here's what's in the budget:
- $165 billion in additional defense spending over the next two years (North Korea watch out!)
- $131 billion in additional non-military spending
- $20 billion for infrastructure
- $6 billion of the opioid epidemic
- $2 billion dollars for medical research
- Funding for CHIP for the next decade (WHEW!)
- $90 billion in new disaster aid for the U.S. states and territories ravaged by hurricanes or wildfires last year
- Renews $17 billion in expired tax breaks for thing such as NASCAR tracks, racehorse owners, craft breweries and producers of rum and ethanol (umm....)
Here's what's not in the budget:
- Protections for DREAMers. Now the Democrats have no real leverage before the March 5th deadline. Wah! Since Trump announced the end of DACA , more than 19,000 immigrant youth have lost their protections from deportation, and 850 more lose it every week. These US raised young people may face deportation after March 5th.