Trump’s $4.4T budget moves deficit higher

WASHINGTON — President Donald Trump unveiled a $4.4-trillion budget for next year that heralds an era of $1 trillion-plus federal deficits and — unlike the plan he released last year — never comes close to promising a balanced ledger even after 10 years.

The budget submitted Monday shows the growing deficits despite major cuts for domestic programs, largely because of last year’s tax overhaul, which is projected to cause federal tax revenue to drop.

This budget does not yet reflect last week’s two-year bipartisan $300 billion pact that wholly rejects Trump’s plans to slash domestic agencies.