#trump-fiscal-package

#trump-fiscal-package

The S&P 500 closed up approximately 2.4% near 6,496, while the Nasdaq Composite gained roughly 3.3% to around 21,475, indicating a strong market response to geopolitical news.

The White House is seeking a 10 percent cut to nondefense spending, proposing a reduction of $73 billion from federal programs outside the military, targeting environmental initiatives.

Typical of Trump, he is boasting about the performance of the U.S. economy in the most hyperbolic terms. He even declared that his economy is 'the greatest ever in history' in a recent interview on Fox Business Network. He points to the stock market and allegedly low inflation to back his claim.

The Biden administration and its allies in Congress gave us the worst inflation in the history of our country. But in 12 months, my administration has driven core inflation down to the lowest level in more than five years. And in the last three months of 2025, it was down to 1.7%.

The nonpartisan Congressional Budget Office's 10-year outlook projects worsening long-term federal deficits and rising debt, driven largely by increased spending, notably on Social Security, Medicare, and debt service payments. Compared with the CBO's analysis this time last year, the fiscal outlook has deteriorated modestly. Major developments over the last year are factored into the latest report, released Wednesday, including Republicans' tax and spending measure known as the " One Big Beautiful Bill Act,"

US president says massive' fraud has caused budget imbalance, but calculations do not support this. United States President Donald Trump has claimed that unearthing and ending fraud nationwide would eliminate the country's deficit. In particular, Trump has highlighted alleged public services fraud by Somalis in Minnesota and also said there is fraud in many other places. If we stop this fraud, this massive fraud, we're going to have a balanced budget, Trump said on Tuesday during a speech at the Detroit Economic Club.