Republican's Immoral Budget
June 25, 2011 at 12:00 PM
By MIKE BROWN
In his June 10 letter in The Star Democrat, Jack Fischer falsely asserted that President Obama hasn't had the courage to offer a serious alternative to the GOP 2012 budget. Obama released his President's 2012 Budget in February, and unlike the GOP's it is serious.
President Obama's budget reduces annual deficits 62 percent by 2017, from 10.9 percent to 3 percent of GDP, with balanced budgets expected by the early 2020s. The GOP budget doesn't achieve balanced budgets until the 2030s. The CBO projects that the GOP budget would be even worse than doing nothing in terms of debt by 2022 (70 percent vs. 67 percent of GDP).
The President understands that we can only achieve balanced budgets if we include some revenue increases along with spending cuts. He would end Bush tax cuts for high income earners and subsidies for oil companies, and make significant spending reductions while protecting our safety net and making targeted investments in America's future.
The Republicans' budget features their same ol' voodoo economics they claim grows the economy and creates jobs. It failed uner Presidents Reagan, who quadrupled our debt and had to raise taxes six times, and W. Bush who doubled our debt and created no net new jobs.
Republicans pay for these giveaways to their wealthy/corporate donors by decimating Medicare and Medicaid and making drastic job-killing cuts to other programs that benefit everyone else.
The GOP budget is immoral. Republicans need to stop their blind obediance to their unelected Czar Grover Norquist and start acting responsibly governing our country.
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