By DANIEL SONNINSHINE
President Trump is continuing to make good on his campaign promises. He has vowed to cut spending, and his “nickel plan” is a viable initiative to do just that.
The “nickel plan” is a proposed initiative that will require each Cabinet department to cut 5% from their budget by fiscal year 2020. This will force the departments to eliminate at least some fat and wasteful spending, which exists throughout government. Currently, the budget deficit is over $800 million. In the past, the “penny plan” (where Cabinet departments cut 1% from their budget) has been proposed, but the nickel plan calls for greater cuts and thus will be even more effective.
The military will not be affected by these cuts, as funding for defense was approved by Congress in September.
Trump points out that this is an easy and practical solution that will make a positive impact on the economy. “We’re going to cut spending, absolutely. It’s not as tough as you think. And frankly there’s a lot of fat in there,” he stated in a recent interview on FOXBusiness. He also suggested that perhaps he would ask for another nickel plan next year.
Economists are looking optimistically at the impact these spending cuts would make. Moody’s Managing Director John Lonski proclaimed, “The markets would love this, my goodness. Treasury bond yields would drop. Equity prices would soar if we had these type of spending cuts.”
And this is one of the many reasons why it was the right decision to elect an astute, succesful businessman, not a career politician, for president. With solutions such as this one, and refusal to accept anything less from the bureaucrats around him, President Trump continues to #MakeAmericaGreatAgain.
Daniel Sonninshine is an Empire State News staff writer, who is in search of greatness. A 20-something smart fellow, he is now lifting weights in an effort to obtain more power. If that doesn’t work, he will ask to write more editorials for Empire State News and less fact articles.
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