Chicago defender 04 05 17

Page 9

NATIONAL

Blacks Have a Lot to Lose with Trump’s New Budget By Lauren Victoria Burke

more than 500,000 homeless people in the United States and over 42 million living in poverty in America overall. Trump’s budget adds $54 billion for defense, a benefit to defense contractors in a Department of Defense that several reports indicate has a massive problem with waste and fraud.

NNPA Newswire President Donald Trump’s proposed budget, titled “America First: A Budget Blueprint to Make America Great Again,” targets a number of programs for severe cuts or outright elimination — programs that often help poor, working-class and Black families. The budget plans to cut almost $4 billion in Pell Grants. More then half of African-American college students receive Pell Grant awards each year. Trump’s budget also eliminates Meals on Wheels, a program that delivers roughly 218 million meals to the poor and elderly each year, according to a Meals on Wheels fact sheet. Minorities account for nearly 30 percent of seniors who receive home-delivered meals. Trump’s budget includes $1.5 billion to build a wall along the southern border of the United States. Despite Trump’s “America First” rhetoric, there’s no specific allocation to solve the lead water crisis in Flint, Michigan, a $150 million fix, based on some estimates. “We can’t spend money on programs just because they sound good. Meals on

Trump Family Costs Taxpayers

President Donald Trump’s proposed budget cuts or eliminates federal funding for Meals on Wheels, Pell Grants and Community Development Block Grants. (Gage Skidmore/Wikimedia Commons)

Wheels sounds great,” said Mick Mulvaney, Trump’s budget director, during a press briefing at the White House in March. Mulvaney suggested that Meals on Wheels, and other programs that offer free meals to students at school, were ineffective. Trump’s budget also purges the Legal Services Corporation, which assists poor Americans with legal services, at a cost

of $502 million per year. Two-thirds of Legal Services Corporation’s clients are African-American. Trump’s budget also abandons Community Development Block Grants and slashes the Department of Housing and Urban Development’s budget by $6.2 billion. Trump’s budget also eliminates the U.S. Interagency Council on Homelessness, which costs $3.6 million a year, and helps

The irony of Trump’s severe budget cuts against the backdrop of the costs to protect the new first family, as they vacation and conduct business for Trump’s empire, hasn’t been lost on the media. Reuters news agency reported in February that $309,000 a day is being spent to protect Trump Tower in New York City, because first lady Melania Trump hasn’t moved into the White House. If she only stays at Trump Tower for 200 days, her decision will cost American taxpayers at least $61.8 million, this year. So far, she has spent very few days at the White House. Trump’s weekend trips to his Mar-a-Lago estate in Florida cost American taxpayers about $2 million per trip, according to The Washington Post. The Sun-Sentinel reported that Trump vacationed at Mar-aLago five weekends between Jan. 20 and March 23.

They’re your dreams. Start building them. Consider a U.S. Bank Home Equity Line of Credit for your next project. With competitive rates and flexible payment options, lasting home improvements could be within reach. Introductory rates start as low as 1.99% APR.

HOME EQUITY LINE OF CREDIT

Introductory rate for 6 months Rates as low as

Variable rate after introductory period

1.99 % 4.64 % APR*

APR*

Rate available 2/25/17 – 5/5/17. Rates are subject to change.

Rate shown for lines of credit: – Up to 70% loan-to-value – U.S. Bank Consumer Checking Package Actual rate may be lower. Visit usbank.com for custom rates.

Call 800.209.BANK (2265), visit a local branch, or go to usbank.com/dreambig *1.99% Introductory Annual Percentage Rate (APR) is available on Home Equity Lines of Credit with an 80% loan-to-value (LTV) or less. The Introductory Interest Rate will be fixed at 1.99% during the 6-month Introductory Period. A higher introductory rate will apply for an LTV above 80%. Offer is available for new applications submitted from February 25 – May 5, 2017. After the 6-month introductory period: the APR is variable and is based upon an index plus a margin. The APR will vary with Prime Rate (the index) as published in the Wall Street Journal. As of March 16, 2017, the variable rate for Home Equity Lines of Credit ranged from 3.51% APR to 8.29% APR. Higher rates may apply due to an increase in the Prime Rate, a credit limit below $100,000, an LTV above 70%, and/or a credit score less than 730. A U.S. Bank Consumer Silver, Gold, or Platinum Checking Package account is required to receive the lowest rate, but is not required for loan approval. The rate will not vary above 18% APR, or applicable state law, or below 3.01% APR – 3.25% APR, depending on market. Choosing an interest-only repayment may cause your monthly payment to increase, possibly substantially, once your credit line transitions into the repayment period. Repayment options may vary based on credit qualifications. Interest only repayment may be unavailable. Loans are subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice. Property insurance is required. U.S. Bank and its representatives do not provide tax or legal advice. Your tax and financial situation is unique. You should consult your tax and/or legal advisor for advice and information concerning your particular situation. Other restrictions may apply. Mortgage and Home Equity products offered by U.S. Bank National Association. Deposit Products are offered through U.S. Bank National Association. Customer pays no closing costs, except escrow-related funding costs. An annual fee of up to $90 may apply after the first year and is waived with a U.S. Bank Consumer Platinum Checking Package. The Consumer Pricing Information brochure lists terms and conditions that apply to U.S. Bank Consumer Checking Package accounts and can be obtained by calling 800.872.2657. Member FDIC. ©2017 U.S. Bank. 170184C 2/17 U.S. Bank was named a 2016 MONEY® Magazine “Best Bank,” November 2016. ©2016 Time Inc. Money is a registered trademark of Time Inc. and is used under license. Money and Time Inc. are not affiliated with and do not endorse products or services of U.S. Bank.

www.chicagodefender.com

THE CHICAGO DEFENDER • April 05 - 11, 2017 09


Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.