Fiscal Responsibility
Over the years, Democrats have shown our commitment to restoring fiscal responsibility by taking actions that have reduced our national deficit while investing in the American people’s priorities. During the 117th Congress, House Democrats delivered the landmark Inflation Reduction Act, which will reduce the deficit by over $300 billion while lowering health care and energy costs and taking action on climate change. In sharp contrast, Republicans jammed their 2017 Trump Tax Scam through Congress without a single hearing, gifting trillions of dollars in unpaid-for tax handouts to the wealthiest Americans and large corporations while leaving our nation with ballooning deficits. They have repeatedly held our economy hostage to benefit their irresponsible ideological agenda, whether creating artificial “fiscal cliffs,” shutting down the government, or bringing our nation to the brink of defaulting on its obligations. With other landmark legislation delivered during the 117th Congress, including the American Rescue Plan, the Bipartisan Infrastructure Law, and the CHIPS and Science Act, Democrats have worked to invest in economic recovery, job creation, all while cutting the deficit in half last year. Democrats are committed to continuing our work to restore sound, long-term fiscal management so future generations can afford to invest in opportunities, secure the American Dream, and ensure workers have the tools to Make It In America.
It appears that Republicans refuse to learn from their past mistakes. Only a few months after they last threatened the creditworthiness of the United States and our national economy, National Journal reports that Senate Republicans are once again threatening to play games with America’s ability to pay its bills:
“While today’s omnibus appropriations bill does not fully reflect Democrats’ budget priorities, it is a step in the right direction and a compromise that will avert another government shutdown, which is why I voted for it.
MESSAGE FROM THE DEMOCRATIC WHIP
Last month, 1.3 million Americans lost access to emergency unemployment insurance, an important program helping struggling families – including 20,000 military veterans – as they continue to search for work. While our economy is improving, too many Americans are still searching for a job and without Congressional action, an additional 72,000 Americans will lose their unemployment benefits each week. The top priorit
The ink isn’t even dry on the budget deal, but Republicans are gearing up to hold our economy hostage over yet another debt ceiling fight. Now they’re publically discussing what they want to get in exchange for ensuring America pays its bills. The kicker? They don’t know what they want!
Here we go again… the budget agreement hasn’t even reached the President’s desk, and House Republicans are already threatening to default on our bills, which could cause another credit downgrade and further harm our economy. As the Hill reports:
MESSAGE FROM THE DEMOCRATIC WHIP
Yesterday, the House of Representatives passed a budget deal that set the funding levels of government for the next two years. I voted against this bill because it does not set our nation on a long-term fiscally-sustainable path, it does not replace the entire sequester, it did not extend unemployment insurance, it failed to address the debt limit, and it targeted hardworking federal employees and military pensions.
Speaker John Boehner is clearly feeling defensive about the lack of accomplishments by the Do-Nothing Republicans – we’re shocked he was able to keep a straight face when he tried to blame Democrats for Republicans’ failure to compromise. From the Hill:
The Office of Management & Budget just released a new report with the impacts and economic costs of the GOP government shutdown and according to the report, the 16 day Republican shutdown cost us big. Here are couple of the “low-lights” from the Report:
Disrupted our Economic Growth:
MESSAGE FROM THE DEMOCRATIC WHIP
This week, the budget conference held its first official meeting, an important step forward in bipartisan negotiations.
"Today's announcement by the Office of Management and Budget that the federal deficit for Fiscal Year 2013 has been significantly lowered continues a trend since President Obama took office.