Trump releases budget amid trillion dollar deficit projections

To understand President Trump's budget proposal, one first needs to understand the spending deal that passed last week.

"The reason it was passed is because of our military," said Trump, referring to the deal. 

It allowed for hundreds of billions in new spending and lifted the debt ceiling until 2019. 

To pave the way for more military dollars, Republicans say they agreed to hike spending caps on Democratic priorities, like some health care programs.

Which brings us to Monday, when President Trump released his budget. 

Because it was written before last week's deal, Trump's framework is considered largely outdated. 

But it did recommend more than $20 billion in spending on border security, and significant infrastructure spending using about $200 billion taxpayer dollars. 

"We're hoping to build roads and bridges and fix bridges that are falling down," said Trump.  

What it did not address was how to pay for any of this. 

After last week's spending deal, America now faces projected trillion-dollar yearly deficits.

Despite asking for reductions in some programs, Trump's proposal on Monday did not recommend a balanced budget now or in the future. 

All of this puts many in the GOP at odds with their own stated ideology.

Speaker of the House Paul Ryan, for example, had a dire warning about the federal debt in 2013.  

"The debt will weigh down the country like an anchor. In short? We are on the verge of a debt crisis," said Ryan. 

The debt at the time of Ryan's speech was around $16 trillion. Today, the debt is more than $20 trillion and counting.

Nevertheless, while fights in Congress will continue over the budget, there now appears to be bipartisan consensus: deficit spending is here to stay. 

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