New copies of President Donald Trump's Budget for the U.S. Government for the Fiscal Year 2019 lay on a display table at the U.S. Government Publishing Office in Washington, U.S., February 12, 2018. REUTERS/ Leah Millis
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U.S. President Donald Trump unveiled a $4.4 trillion budget for next year that heralds an era of $1 trillion-plus federal deficits and – unlike the plan he released last year – never comes close to promising a balanced ledger even after 10 years.And Monday's budget submission does not yet reflect last week's two-year bipartisan $300 billion pact that wholly rejects Trump's plans to slash domestic agencies.Trump is requesting a record $686 billion for the Pentagon, a 13 percent increase from the 2017 budget enacted last May.Trump's plan sees a 2019 deficit of $984 billion, though $1.2 trillion is more plausible after last week's budget pact and $90 billion worth of disaster aid is tacked on.All told, the new budget sees accumulating deficits of $7.2 trillion over the coming decade; Trump's plan last year projected a 10-year shortfall of $3.2 trillion.Mick Mulvaney, the former tea party congressman who runs the White House budget office, said Sunday that Trump's new budget, if implemented, would tame the deficit over time.
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