Trump Releases Budget With Deep Domestic Cuts, Deficit Spending

President Donald Trump released his annual budget Monday, proposing deep cuts to social programs but increases in defense and entitlement spending that would push the gross federal debt above $30 trillion over the next decade.

The president’s $4.8 trillion spending plan, posted to the White House’s website Monday afternoon, would increase debt partly because of tax cuts and billions more in spending on defense.

The budget is an election-year embodiment of many of the policy priorities Trump has championed over his first three years in office. Trump proposes continuing his effort to “rebuild” the U.S. military by investing heavily ...