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Expand chart
Reproduced from WSJ.com; Chart: Axios Visuals

President Trump is expected to double down on big spending and tax cuts when he releases his budget proposal for fiscal year 2021 later today.

The big picture: The budget proposes increases in defense spending and other categories and also assumes the annual budget deficit will fall from more than $1 trillion in 2020 to around $200 billion, largely as a result of increased U.S. growth.

  • The budget projects 3% growth every year for the next 15 years, even though annual GDP has not grown by that amount during Trump's presidency and last hit that growth rate 15 years ago.
  • The growth projection is about double the CBO's expectation for growth during that time period.

Between the lines: Trump's budget also proposes to cut spending by $4.4 trillion over the next 10 years. Of that, it targets $2 trillion from mandatory spending programs, which would require action from Congress.

  • Trump proposes to cut EPA spending by 26%, the Department of Housing and Urban Development’s budget by 15%, the Commerce Department by 37%, foreign aid by 21%, and the CDC by 9%.

Reality check: Presidential budget proposals rarely, if ever, reflect actual spending. However, the proposal does provide insight into the Trump administration's policy priorities.

What they're saying: Vice President Mike Pence suggested in a Friday interview with CNBC that the debt and deficits are not a primary focus of the administration.

  • "The president came in and said first and foremost we have to restore growth," he said. "That's how we'll deal with the long-term fiscal challenges facing our country."

Go deeper:

Go deeper

Tech scrambles to derail inauguration threats

Illustration: Sarah Grillo/Axios

Tech companies are sharing more information with law enforcement in a frantic effort to prevent violence around the inauguration, after the government was caught flat-footed by the Capitol siege.

Between the lines: Tech knows it will be held accountable for any further violence that turns out to have been planned online if it doesn't act to stop it.

Dave Lawler, author of World
5 hours ago - World

Uganda's election: Museveni declared winner, Wine claims fraud

Wine rejected the official results of the election. Photo: Sumy Sadruni/AFP via Getty

Yoweri Museveni was declared the winner of a sixth presidential term on Saturday, with official results giving him 59% to 35% for Bobi Wine, the singer-turned-opposition leader.

Why it matters: This announcement was predictable, as the election was neither free nor fair and Museveni had no intention of surrendering power after 35 years. But Wine — who posed a strong challenged to Museveni, particularly in urban areas, and was beaten and arrested during the campaign — has said he will present evidence of fraud. The big question is whether he will mobilize mass resistance in the streets.

Off the Rails

Episode 1: A premeditated lie lit the fire

Photo illustration: Sarah Grillo/Axios. Photo: Chip Somodevilla/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 1: Trump’s refusal to believe the election results was premeditated. He had heard about the “red mirage” — the likelihood that early vote counts would tip more Republican than the final tallies — and he decided to exploit it.

"Jared, you call the Murdochs! Jason, you call Sammon and Hemmer!”