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Donald Trump proposes $4.7 trillion US budget, allocates a record of $750 billion for defence

US President Donald Trump on Monday proposed $1 billion funding towards advancing a free and open Indo-Pacific.

twitter-logoPTI | March 12, 2019 | Updated 08:25 IST
Donald Trump proposes $4.7 trillion US budget, allocates a record of $750 billion for defence

US President Donald Trump on Monday proposed a record USD 750 billion for defence, which is an increase of USD 34 billion from the previous year's USD 716 billion, as he sent his USD 4.7 trillion budgetary proposals to the Congress.

The budget reduces non-defence programmatic spending by five per cent below the 2019 cap level. It proposes policies to shrink or eliminate Federal programmes that fail to deliver desired outcomes for the American people.

In his budget Trump calls for across the board five per cent cut in domestic spending and USD 1 billion funding towards advancing a free and open Indo-Pacific.

The budget notes that the national debt currently more than USD 22 trillion remains a grave threat to America's economic and societal prosperity. This budget addresses the national debt crisis while still investing in critical American priorities that will allow America to further excel in the future.

In its annual budget for the fiscal year 2020, beginning October 1 this year, the White House said the nation's future security, prosperity and leadership depend on maintaining a free and open Indo-Pacific region.

As such the budget provides over USD 1 billion for the Indo-Pacific, reflecting the Administration's commitment to the region, it said.

This funding supports democracy and good economic governance, private sector mobilisation and competitiveness, critical infrastructure standards and financing and security cooperation.

The new Development Finance Corporation's (DFC) work in the region will also advance US strategy by leveraging private sector capital in much needed, high-quality regional infrastructure, it said, adding that together, these programmes ensure that the US remains the preferred security and economic partner in the region.

Proposing to reduce spending by USD 2.7 trillion over 10 years, shrinking the deficit from nearly five per cent of GDP in 2020 to under one per cent of GDP in 2029, the budget puts the Federal budget on a path to balance within 15 years, the White House said.

Among other things, the budget furthers the US' goal of a stable and secure South Asia by supporting the Afghan government and security forces in their fight against jihadist terrorist organisations.

It requests funding for continued US training and assistance for the Afghan National Defence and Security Forces and enables US forces to conduct counter-terrorism operations.

Providing USD 533 million for assistance to Afghanistan, the Budget prioritises economic growth and reconciliation, investments to help Afghanistan to work toward peace.

The Budget supports programmes that target private-sector led economic growth, including by increasing the country's export capability and attracting international investment. It also supports education, health, governance, and other sectors that are necessary for a stable and thriving Afghanistan.

The Budget requests the funding necessary to ensure the lasting defeat of ISIS.

Building on ISIS territorial defeat in Iraq and the liberation of ISIS-controlled territory in Syria, DOD will continue to work with partner forces to destroy remnants of ISIS, strengthen border security, retain territorial control, and disrupt ISIS' capability to attack the US homeland and America's allies.

The Budget also requests funding for DOD to address the threat from ISIS branches outside Iraq and Syria, and to protect the United States against other terrorist threats.

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