3/16/2013

Senate Democrats plan increases both taxes AND spending, deficits reduced only because taxes increase more

From The Hill newspaper:
The budget would dedicate $100 billion to economic stimulus in the form of infrastructure spending and job training.  Murray argues that her budget cuts $1.85 trillion from deficits over 10 years. But once the sequester cuts are turned off, Murray’s budget appears to reduce deficits by about $800 billion, using the Congressional Budget Office’s baseline. The Murray budget does not contain net spending cuts with the sequester turned off. . . .
Paul Ryan has this take:

Ryan took aim at President Obama and Senate Democrats, saying the tax increases in a proposal from Sen. Patty Murray (D-Wash.) only "fuel more spending."
"We know where this path leads—straight into a debt crisis, and along the way, fewer jobs, fewer opportunities, and less security," Ryan said, painting a desperate image of rising interest rates and inflating debt payments.
"Our finances will collapse," he warned. "You think this can't happen here? Just look at Europe." . . .

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