Trump $2.2 Trillion Budget Pairs Defense Boost, Agency Cuts

President Donald Trump asked Congress to enact a $2.2 trillion budget for discretionary programs, seeking a massive increase in defense spending, while also renewing his push for steep cuts to domestic agencies.
The 2027 budget proposal released on Friday requests $1.5 trillion for defense, a significant increase over the $1 trillion sought for fiscal year 2026.

The new figure includes $1.1 trillion in base discretionary spending for the Department of Defense and another $350 billion in mandatory spending.

The Office of Management and Budget is also still reviewing a potential $200 billion Pentagon supplemental package for the current fiscal year that would be on top of Friday’s request as the US carries out its war in Iran.

Bloomberg's Nathan Dean joins Balance of Power to discuss what this means for the midterms. (Source: Bloomberg)