4. When it comes to a balanced budget, there are 3 options. When you boil down a budget - whether it is for the government, or your own household, there are only three things you can do: 1) cut spending, 2) bring in more money, or 3) a combination of 1) and 2). Theoretically, you could cut over $500 billion in spending at the federal level to balance the budget - but the votes wouldn't be there to do that, because of the outcry. Republicans in Congress will be tested this summer. Will they really vote for deep budget cuts? Or will the budget look pretty much the same later this year?
5. Tightening the purse strings at FEMA. One way the Trump Administration will be tested in terms of the budget is what they do in areas where money can be held back. Two examples of that cropped up in the last week on disaster relief money, as North Carolina asked the feds for $929 million in aid to deal with damage from Hurricane Matthew in 2016 - but received just $6.1 million. And in Pennsylvania, the Governor grumbled there after FEMA rejected a plan for money to help deal with a big winter snowstorm. Yes, when you are saving money, you always need to start somewhere. But getting to $500 billion in cuts - to fix the deficit for one year - won't be easy.
Republicans have long talked about turning the budget around, and getting it in balance.
We'll see how much progress they make in the months ahead in Congress.