Home Budget, Economy Lyin’ Ryan Releases Horrible, No Good, Godawful, Really Bad Budget

Lyin’ Ryan Releases Horrible, No Good, Godawful, Really Bad Budget

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Earlier today, Paul “Lyin'” Ryan released the latest version of his all-cuts, all-harm-to-the-middle-and-working-classes, voucherize-Medicare, screw-seniors, give-a-big-sloppy-wet-kiss-to-the-top-1% budget. Not surprisingly, it sucks. Big time.

First, see ThinkProgress for “The 5 Worst Things About The House GOP’s New Budget” (highlights: cuts food stamps and health care coverage, “gives huge tax cuts to the rich and corporations”). Blech.

Next, see the White House statement (on the “flip”), which explains that Ryan’s “math just doesn’t add up,” that his budget “asks nothing from the wealthiest Americans has serious consequences for the middle class,” etc. I mean, if this heartless, corporate tool is what passes for a “thought leader” in the Republican Party these days, it’s truly a frightening time for our country.

Statement by the Press Secretary on the House Republican Budget

The President believes that there is an opportunity for Democrats and Republicans to come together around a balanced plan to grow the economy and shrink the deficit by investing to create jobs, cutting wasteful spending, and strengthening programs like Medicare and Medicaid.  This approach will require both parties to compromise and make tough choices.

While the House Republican budget aims to reduce the deficit, the math just doesn’t add up.  Deficit reduction that asks nothing from the wealthiest Americans has serious consequences for the middle class.  By choosing to give the wealthiest Americans a new tax cut, this budget as written will either fail to achieve any meaningful deficit reduction, raise taxes on middle class families by more than $2,000 – or both.  By choosing not to ask for a single dime of deficit reduction from closing tax loopholes for the wealthy and well-connected, this budget identifies deep cuts to investments like education and research – investments critical to creating jobs and growing the middle class.  And to save money, this budget would turn Medicare into a voucher program–undercutting the guaranteed benefits that seniors have earned and forcing them to pay thousands more out of their own pockets.  We’ve tried this top-down approach before.  The President still believes it is the wrong course for America.

That’s why the President has put forward a balanced approach to deficit reduction with no sacred cows.  It includes more Medicare savings over the next decade than the House Republican budget, but it does so by cracking down on waste and fraud, not by asking middle class seniors to bear the burden.  It closes tax loopholes for the wealthiest and biggest corporations so we can still afford to create jobs by investing in education, manufacturing, infrastructure, and small businesses.  The President’s plan puts our nation on a fiscally sustainable path and grows our economy from the middle class out.

While the President disagrees with the House Republican approach, we all agree we need to leave a better future for our children.  The President will continue to work with Republicans and Democrats in Congress to grow the economy and cut the deficit in a balanced way. This is the approach the American people overwhelmingly support, and that is what the President will continue to fight for each day.

  • Statement by Congressman Gerry Connolly on House Republican Budget Plan

    Ryan Budget Once Again Breaks Faith with America’s Seniors; Most Radical Fiscal Document Ever Introduced in Congress

    WASHINGTON – Congressman Gerry Connolly (D-VA) issued the following statement today after the introduction of the Republican budget proposal for fiscal year 2014 by House Budget Committee Chairman Paul Ryan:

    “The third iteration of the Ryan budget is the most radical fiscal document ever introduced in any Congress in our nation’s history.

    “While many Americans found the Ryan Budget plans one and two to be radical, this latest plan doubles down on the pain.  It marks a profound retrenchment and disinvestment in federal functions and programs that will leave the American people less secure in the next decade.

    “The Ryan budget breaks faith with our seniors by ending the Medicare guarantee and replacing it with a voucher system that will drastically increase out-of-pocket costs for seniors.  It also unfairly targets veterans, women, children, middle and moderate income families, federal employees, seniors and college students.

    “Considering that the country found sequestration requiring $1.2 trillion in cuts to be bad enough, this plan is far worse, proposing to cut federal investments over the next decade by nearly $5 trillion. The budget also fails to consider new revenue of any kind as it defunds critical federal functions that include research and development, education and infrastructure.

    “Despite the fact that this extreme approach was soundly rejected by voters last November, sadly the Budget Committee chair has once again turned aside entreaties to develop a bipartisan plan that seeks a balanced approach to reducing the deficit.

    “I share the sentiment of Congressman Chris Van Hollen, Ranking Member of the House Budget Committee, that we must work together to create jobs rather than cut them, to grow the economy rather than stifle growth, and find a balanced, bipartisan path forward that protects the promise and opportunity of a better life for all Americans.”