President Trump on Monday released his final budget proposal ahead of the 2020 elections. Though the budget contains some laudable proposed cuts to wasteful spending, in keeping with his campaign pledge, it avoids any large-scale changes to Medicare and Social Security. This marks another missed opportunity to address the major drivers of the nation’s looming debt crisis.

The Trump budget, to be sure, does claim $4.6 trillion in deficit reduction over the next decade, but, to get there, the budget relies on optimistic projections that assume that economic growth will remain strong for the next 10 years and that interest rates on the debt will remain at low levels.