It’s budget week in Washington. As the president has still not released his budget, for the first time in 92 years, the budget process will begin in Congress. As House Budget Committee Chairman Rep. Paul Ryan has taken the lead once again in presenting the House Republicans plan, Senate Democrats led by Sen. Patty Murray will produce a budget for the first time in four years.
POLITICO reports that Murray’s plan calls for raising tax revenues by nearly $1 trillion while cutting spending by roughly the same over the next decade. Murray;s plan would cut $240 billion in defense spending and $275 billion in health care spending.
Ryan’s plan will cut $4.6 trillion over the next 10 years and balance the federal budget by 2023, according to The Washington Times. Construction of the Keystone XL pipeline would be approved as a part of Ryan’s plan, in addition to the repealing of President Obama’s health care overhaul and replacing of traditional Medicare with a “premium support” system which Democrats label as a voucher system.
On ‘Real News‘ Tuesday the panel discussed the opening moves by Republicans and Democrats on the budget this week, and where the president stands in the process.
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NOBALONEY
Mar. 13, 2013 at 6:35amSenator Murray, half of the women’s rights, abortion, Plan B, and RU 486 Senate duo that will be the winning ticket in 2016. There’s going to be no budget! The Congress just passed another stop gap measure that keeps the government running till September. These are the same actors repeating the same script! Are americans giving in to the same old, same old stuff! Washington, Wall Street, and the MSM have total control. Do not adjust your screen, or the volumn. The Affordable Care Act, and Sequestration are the tolls for absolute control. Have some more kool aid.
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Ian56
Mar. 13, 2013 at 3:55amThe GOP budget plan is an absolute joke.
People like Ryan need to be kicked out of the GOP.
Ryan’s budget will NEVER balance the budget.
His budget will run $1tn+ deficits ad infinitum.
To make his numbers work he has to assume that the economy will grow by 6% a year forever.
During the boom period (1950 to 2000) America only grew by an average of 3.3%.
During the latter period – circa 1980 on the economy was debt fuelled, not real, total money increased exponentially and total debt went up over TEN times from $6tn to $68tn
Since 2000 the economy has only grown at an average of just under 2%.
Ryan’s assumptions for future growth rates are plainly ridiculous.
Ryan also assumes that he will close $750bn of annual tax loop holes by 2020.
But he doesn’t name a SINGLE one.
They would disproportionately hurt the middle class and would cause a major depression if they were closed (and not offset by other tax breaks).
These assumptions too are plainly ridiculous.
Giving tax breaks to the rich isn’t the priority.
The top 0.1% are already doing more than ok.
It’s the 99% that are suffering.
In order for the economy to ever recover, disposable incomes of ordinary people need to start rising again, instead of plummeting like they have since 2001.
What is required is to cut $1.3tn+ a year of Corporate Welfare and to use that money to give massive tax cuts for middle earners and below.
Continued at :- http://ian56.blogspot.co.uk/20
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Daddymac10
Mar. 13, 2013 at 1:25amA balanced budget sounds nice, but how much of the deficit will be reduced over that time?? I’m not impressed by either plan. Liberals cry over a 2% cut in growth?? We need to be cutting across the board by at least 20% to 30%…
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