The Washington Post reports:
President Trump is remaking the Republican economic playbook in his own image, abandoning ideological consistency in favor of a debt-busting strategy that will upend how Washington taxes and spends trillions of dollars each year.
On Monday, Trump is slated to announce a new budget plan that will no longer seek to eliminate the deficit over the next decade, forfeiting a major Republican goal, according to three people familiar with the document. The plan will call for a range of spending cuts that reduce the growth of the deficit by $3 trillion over 10 years, but it will not attempt to balance the federal budget, said the people, who spoke on the condition of anonymity to discuss the proposal before its official release.
The decision to relinquish the deficit goal comes after Trump pushed a $1.5 trillion tax cut through Congress late last year and signed a two-year budget deal last week that lifts federal spending limits by $500 billion, suspends for one year the ceiling on the national debt and is expected to lead to $1 trillion annual budget deficits.