Top Stories
by Michael Henris on February 10th, 2020

“We are going to build a wall…It’s going to be a powerful wall!”

After getting Donald Trump’s way out of impeachment, his administration is planning to demand an additional $2 billion for wall construction. The official budget proposal was announced by the White House this Monday.

However, the amount demanded is lower than an initial budget of $5 billion that was asked on top of $3.6 billion to replenish funding for military construction projects.

This year’s request also does not include the money necessary for reimbursing the military.

The White House which is currently controlled by Democrats is unlikely to provide Donald Trump with the amount requested. But it was agreed that the administration will get an amount close to that – $1.375 billion – in the upcoming years.

The smaller request can be justified by the fact that the administration needs fewer resources to build a border wall with Mexico proposed by Donald Trump as a part of his election campaign four years ago. The funding goals were met by money from the military toward construction.

Trump's Great Wall

In total, the White House managed to rack up $18 billion which should be enough for the construction of a 1.000-mile long wall. However, only 100 have been built.

The official said:

“This $2 billion is another 82 miles on top of that 1,000.”

When the Congress denied him the $5 billion in wall funding last year, Trump refused to sign a spending bill. That resulted in the nation’s longest governmental shutdown, which lasted for more than a month.  After, Trump has decided to declare a state of emergency and allocated money for military projects to his border wall.

By Michael Henris

Michael spends most of his time on ForexNewsNow trying to analyze all the different stories that are reported about the financial markets every day. All of his articles always contain some kind of analysis of what an interest rate change or a planned meeting from politicians could do to currency exchanges.

More content by Michael Henris

Comments (0 comment(s))