The Trump administration has officially unveiled its budget seeking $1.5 trillion in non-defense discretionary cuts and $1.4 trillion in Medicaid cuts over the course of a decade, while adding nearly half a trillion dollars to defense spending, for a total of $3.6 trillion in spending cuts. The plan, titled "A New Foundation for American Greatness," would dramatically reshape federal spending, cutting anti-poverty and safety net programs, while leaving Medicare and the retirement portion of Social Security untouched.

After submitting the budget, Trump made the following appeal to Congress:

As this Budget returns us to economic prosperity, it will also allow us to fund additional priorities, including infrastructure, student loan reform, and initiatives to help working families such as paid parental leave. We will champion the hardworking taxpayers who have been ignored for too long. Once we end our economic stagnation and return to robust growth, so many of our aspirations will be within reach.

It is now up to the Congress to act. I pledge my full cooperation in ending the economic malaise that has, for too long, crippled the dreams of our people. The time for small thinking is over," the statement said.

Trump's budget is largely irrelvant: Congress will reject most of the proposals as it takes up the budget in the coming weeks and months. It is being released, unusually, with President Trump out of town on his first foreign trip in office.

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Earlier:

More details of President Donald Trump's first budget proposal were reported Monday by Bloomberg and Reuters. The leaks add to the picture of what we know about Trump's budget, which also includes a flurry of leaks published by The Washington Post, the Associated Press and Bloomberg late Sunday, which fleshed out Trump's plans to slash entitlement spending.

In total, the budget plans to trim $3.6 trillion in spending over 10 years across all discretionary spending and non-discretionary spending lines, in order to enable tax reductions across the board: if enacted - and remember that the president's budget is just an initial blueprint which rarely passes in its original form - the Trump administration would implement the deepest cuts to government programs in a generation, delivering the opening salvo in a new round of budget battles in Washington.

This is key to balancing the budget by the 10th year.