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.
While the effects of sequestration will continue to build over time, our men and women in uniform are already feeling the impact with the Air Force, Army, Marine Corps, and Coast Guard stopping tuition assistance:
The House Republican budget has been officially unveiled, and the reviews aren’t pretty. It appears that the early predictions were correct: while the Republican budget includes no major surprises, it does offer plenty of disappointment. The reaction so far is that the Republican budget cannot be taken seriously, it offers more of the same, targets the most vulnerable and leaves us with unanswered questions.
“The Republican budget proposal for Fiscal Year 2014, which Chairman Ryan introduced this morning, once again heaps the burden of deficit reduction onto the backs of those who can least afford it while asking nothing of those at the top. Yielding to the extreme wing of his party, which has demanded that he balance the budget in only ten years but refuses to consider any new revenues necessary to do so, Chairman Ryan flouts mathematics and fiscal common sense by imposing severe cuts to programs vital to seniors, women, veterans, federal employees, low-income families, and America’s middle class.
In what is likely to be the latest installment in a tragic budgetary trilogy, House Budget Committee Chairman Paul Ryan on Tuesday will introduce a Republican budget proposal for fiscal year 2014 that purports to balance within ten years. While an improved economic outlook and new revenue from the fiscal cliff deal make the task of balancing the budget somewhat easier, this plan, much like Ryan’s previous budgets, is expected to rely on spurious budget trickery to reach its goal.
Budget Committee Chairman Paul Ryan appears to have based his Republican budget proposal on fantasy instead of reality. While Rep. Ryan admits Republicans don’t want to refight the fiscal cliff battle, apparently refighting the Affordable Care Act isn’t off the table (yes, the same Affordable Care Act upheld by the Supreme Court). Here’s a look at some of the articles pointing out that this proposal is unrealistic:
Rep. Paul Ryan may not have officially unveiled his budget proposal yet, but he gave a pretty clear indication of his plans this weekend. As expected, it appears the Republican budget will be based on false realities, gimmicks, and rejected policies.
Prior to its unveiling next week, several economists, op-eds and news sources have been taking a look at the proposals Budget Committee Chairman Paul Ryan has discussed including in the House Republican Budget.
MESSAGE FROM THE DEMOCRATIC WHIP
This week, Republicans again did not take action to stop the reckless and irresponsible spending cuts known as the sequester. As warnings are issued about the potential harm these across-the-board cuts could cause, Republicans have refused to vote on House Democrats’ alternative to stop the sequester with a balanced approach to deficit reduction.
Next week, Budget Committee Chairman Paul Ryan and House Republicans are reportedly planning to put forward a budget that balances in 10 years. Rep. Ryan told the Wall Street Journal that we shouldn’t expect any big surprises, but we’ve still got plenty of questions about the fuzzy math and ambiguous spending cuts. Take a look at our top 10 questions for Rep. Ryan:
As we wait with baited breath for Rep. Paul Ryan to release the Republican budget, it looks like it’ll be more of the same. Just yesterday, we pointed out that the Budget Committee Chairman told the Wall Street Journal: “I wouldn’t expect any big surprises.” And boy was he right!