Trump’s 2020 Budget takes its cues from Presidents Reagan and Clinton

President Trump recently submitted his budget plan for fiscal year 2020. Trump’s 2020 budget plan calls for a 7% increase in spending, bringing the budget total to $4.7 trillion. The government projects a tax revenue of 3% to $3.6 trillion in total. That would result in the Federal deficit reaching $1.1 trillion. Given that the public debt already exceeds $22 trillion, is…