President Donald Trump is downplaying the chances of reaching a bipartisan two-year agreement to escape billions of dollars in spending reductions.
The president tweeted Thursday evening: “House Democrats want to negotiate a $2 TRILLION spending increase but can’t even pass their own plan. We can’t afford it anyway, and it’s not happening!”
Politico noted House Democrats failed this week to gain support to pass a bill that would ward off $126 billion in spending cuts in the fiscal that starts on October 1 and cuts for the following fiscal year.
The Trump administration maintains it would lead to nearly $2 trillion in spending increases over 10 years, according to Politico.
Meanwhile, White House economic adviser Larry Kudlow warned that Trump might initiate a budget sequester and allow about $125 billion in cuts for both defense and non-defense spending if Congress does not agree to his 2020 budget.
© 2021 Newsmax. All rights reserved.