As President-elect Donald Trump prepares to take the White House for a second term, the federal government could be staring down significant spending cuts that echo his early agenda, according to experts on both sides of the aisle.
As Trump’s policies take shape, Americans face a critical question: will the cuts achieve their intended goals of reducing debt and inflation, or will they leave millions without essential services? For now, Trump’s allies argue that the short-term pain will lead to long-term gain. But for those on the receiving end of these cuts, the stakes couldn’t be higher.
The Department of Education, the Supplemental Nutrition Assistance Program (SNAP), which provides monthly food benefits to low-income households, and Medicaid could be affected by major funding changes.
Bob Greenstein, visiting fellow in economic studies at the Brookings Institution and founder and president emeritus of the Center on Budget and Policy Priorities, says that to understand what funding could be cut, look at what “can be found in the proposals from [Trump’s] first term and even Project 2025.”
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Article URL : https://www.forbes.com/sites/advisor/2024/11/19/trumps-spending-cuts-project-2025-and-doge-signal-leaner-times-ahead/