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.
MESSAGE FROM THE DEMOCRATIC WHIP
This week, I was disappointed that House Republicans continued their agenda of political messaging instead of substantive legislation. Rather than spending time voting on a gimmick budget bill, House Republicans should have been working with Democrats towards a balanced solution to avert the looming sequester.
“I am extremely disappointed that once again Republicans are proposing to delay sequestration by solely targeting middle-class federal employees, rather than working with Democrats on a comprehensive solution to reduce the deficit and replace the sequester. These hard working Americans have already contributed $103 billion towards deficit reduction, yet Republicans continue to single them out and place the burden of deficit reduction solely on their shoulders. From defending our nation to promoting the safety and well-being of Americans, federal workers provide countless services to our country. It is simply unfair and unwise to target America’s public servants after they have already accepted a two-year pay freeze, an increased pension contribution, and a reduction and delay of a cost-of-living-adjustment this year.
As the March 1st deadline quickly approaches, there is still time to stop the automatic spending cuts, known as sequestration, from occurring. Unfortunately, many Republicans have indicated that they are willing to let sequestration happen in spite of the harmful impact it will have on the economy, our national defense, and on working Americans:
“I continue to believe that we need a big and balanced solution to our deficits, which is what we should be working on rather than partisan gimmicks like the bill on the House Floor today. I voted for an amendment to that bill by Reps. Schrader, Wolf, Cooper, and Gibson, which reiterated the importance of a balanced framework for deficit reduction that includes both revenues and spending cuts, like the one put forward by the Bowles-Simpson commission. While I do not support every item proposed by that commission, I firmly support the need for deficit reduction that is balanced, and does not occur on the backs of the most vulnerable.”
“President Obama made it clear today that we need a long-term, big and balanced solution to deficits in order to turn off the looming sequester – reiterating the position he and Democrats have taken as we’ve faced our fiscal challenges. By indicating that he would accept a short-term agreement to delay the sequester through spending cuts and revenues, should a more comprehensive solution not be reached by the end of this month, the President demonstrated once again that he is ready to put country first and do what is necessary to avert economic disaster and allow time for Congress to work through its annual budget process.
“I thank the gentleman for yielding. Mr. Price of Georgia said what the American people want. What the American people don't want is games. This is a game. This is a sham. This is a shame. What the American people want is honest legislation to address the challenges that confront us.
A Wall Street Journal article out today offers a preview of GOP Leader Cantor’s speech tomorrow, and describes it as an attempt to overhaul Republicans’ message. In our effort to be helpful, we’d like to point out that it’s not (only) a message problem they’re having – it’s their obstruction and lack of action on anything substantive. But best of luck to him.
We’re guessing Republicans didn’t enjoy reading today’s editorial in the New York Times, which offered them some harsh reality about the harmful effects to the economy if they left the sequester hit. It’s a pretty rough look in the mirror for Republicans:
We mentioned earlier this week that Republicans have started to accept sequestration, despite the devastating effect this would have on our economy. Apparently, it’s even worse than we thought. [Cue the horror music.] Even after Republicans saw GDP dip last quarter due to the uncertainty they’ve caused over sequestration, this news warranted little more than a shrug from our GOP friends.