President Donald Trump held a Cabinet meeting at the White House Wednesday and instructed each of its members to cut at least five percent from their department budgets.
"Some [Cabinet secretaries] will say, I can do much more than 5 [percent]," Trump said. "Get rid of the fat, get rid of the waste."
"It'll have a huge impact," he continued.
.@POTUS: “I’m going to ask each of you to come back with a 5 percent budget cut from your various departments…I’m sure everybody at this table can do it.” https://t.co/oX1btZv7qZ pic.twitter.com/y1uKQi4wNr
— Fox News (@FoxNews) October 17, 2018
The Department of Defense may receive an exemption.
.@POTUS says new Department of Defense budget will likely be $700 billion:
— FOX Business (@FoxBusiness) October 17, 2018
"That's a very substantial number, but it's defense, it's very important to us." https://t.co/HZ6BISpcgW pic.twitter.com/6MkGTXH19c
During an interview with Fox Business host Stuart Varney before the meeting, President Trump discussed additional ways to reduce spending and boost government revenue through economic growth.
— Donald J. Trump (@realDonaldTrump) October 17, 2018
— Donald J. Trump (@realDonaldTrump) October 17, 2018
The White House released a tipsheet Wednesday detailing how the administration will continue its work repealing burdensome and economically damaging regulations.
"An ever-growing maze of regulations, rules, restrictions has cost our country trillions and trillions of dollars, millions of jobs, countless American factories, and devastated many industries," President Trump said in a statement.
— Donald J. Trump (@realDonaldTrump) October 17, 2018