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Transcript

00:00:00
>> Build the depleted military.>> President Donald Trump calling for more military spending and less money for foreign aid and the environment as he prepares his first budget. I'm Andy Sullivan, in Washington, where Trump's White House is starting to talk about how it wants to shift the nation's spending priorities.
00:00:17
Think more guns, less butter.>> And it will include a historic increase in defense spending. This is a landmark event, a message to the world, in these dangerous times, of American strength, security, and resolve.>> The White House saying Trump wants to boost military spending by $54 billion, while cutting domestic programs by that same amount.
00:00:38
That's a small slice of the $4 trillion the federal government is expected to spend this year. But it could mean deep cuts for agencies like the State Department and the Environmental Protection Agency.>> We have to win. We have to start winning wars again.>> Details are scant at this point, but he's sure to run into resistance from Democrats and some Republicans, who worry that this plan could push the nation's debt even higher.
00:00:59
He's outlined some spending cuts, but they would do little to tackle the healthcare and retirement programs that account for the bulk of federal spending. It's important to remember that the presidential budget is just a suggestion. Congress has the power of the purse, and they can ignore this plan if they want to.
00:01:14
In fact, that's routinely what happened to President Barak Obama. His budget plans rarely went far on Capitol Hill. Trump will get a better reception because his Republicans are in charge. But he'll need at least some Democratic support, and they're not likely to go along with a 9% hit to the domestic programs that they championed.
00:01:32
The United States already has the world's most powerful fighting force, spending far more than any other country on its military. And Trump would give the Pentagon wide discretion to spend the additional money however it wants. This comes as the Pentagon says it has finished its plan to defeat Islamic State as Trump as requested.
00:01:49
Trump is also calling for a big increase in highway spending, though he's not saying how he would pay for it. He's also not addressing changes to the tax code. Or whether he'd do anything about Social Security and Medicare, which together make up about 40% of all federal spending.
00:02:04
These are the real big issues when it comes to the federal budget. We're likely to see more details in the weeks and months to come. Their reception will mean the difference between success and failure for this new president.