…..Trump budget proposal includes big increases in defense spending and big cuts to social programs. Based on 3% GDP growth. Hits Social Security and Medicaid. Let the budget battles begin.   Financial Review by Sinclair Noe for 05-23-2017 DOW + 43 = 20,937 SPX + 4 = 2398 NAS + 5 = 6138 RUT + 3 = 1380 10 Y + .03 = 2.28% OIL + .36 = 51.49 GOLD – 9.70 = 1251.70   In the morning, U.S. economic data showed new single-family home sales in April tumbled from near a nine-and-a-half-year high, while manufacturing activity for May fell to the lowest level since September. While the President is on an overseas trip, stocks were helped by a lack of major news updates related to the government probe on possible ties between his election campaign and Russia. While today’s economic data was weak, investors were relieved Trump’s first full budget plan was largely as expected, even if it is not expected to be approved in Congress.   The Trump Budget was published today. Its official title is “A New Foundation for American Greatness” and it includes big changes to the role of the federal government. It would cut or eliminate numerous programs that the White House says are a waste of money or create too much dependency.   Some of these programs — including Medicaid and food stamps — provide benefits to up to a fifth of all Americans. The $4.09 trillion budget proposal for the fiscal year that begins ...