House Dems propose $200 billion in new spending

Because, after all, money grows on trees, doesn't it?

The Hill:

House Democrats on Monday unveiled a 2014 budget proposal that includes $1.2 trillion in new taxes and $200 billion in stimulus spending.

That's about twice the level of stimulus spending that what was in the Senate Democratic budget, which included $975 million in new taxes.

House Republicans have a budget that would lower tax rates and cut spending by $5.7 trillion compared to the Congressional Budget Office baseline.

The House Democratic budget, authored by Budget Committee Ranking Member Chris Van Hollen (D-Md.), would raise $1.2 trillion in revenue over ten years by ending tax breaks for both corporations and individuals.

"We focus immediately on accelerating the economic recovery, on growing jobs rather than shrinking jobs," Van Hollen told reporters.

The Democratic budget also includes higher guaranteed transportation spending. 

Van Hollen said his budget included more spending cuts than tax increases if the $1.5 trillion in cuts approved by the last Congress are included.

Van Hollen noted that the House Democratic budget, like that of Senate Democrats, turns off nine years of automatic sequestration cuts that began to go into effect on March 1. He said that this would save 750,000 jobs in 2013 alone compared to the House Republican budget, which cuts $4.6 trillion in spending on top of the sequester cuts over ten years.

The Van Hollen budget, like the Murray plan, ends up with public debt at 70 percent of gross domestic product and with revenue at 19.8 percent. Its spending is at 22.1 percent of the economy in 2023, compared to 21.9 percent for the Murray budget.

House Republicans dismissed the Van Hollen effort as "unserious."

Gee...ya think? One day, someone is going to explain to me the reasoning behind the idea that you can cut the budget and propose massive spending increases at the same time. That isn't "unserious." It's madness.

If the Senate Democratic budget was a fantasy, the House Dems have birthed a sci-fi epic. We anxiously await the budget - already two months late - from the president next month. Perhaps this time, someone in Congress will make a mistake and actually vote for the president's plan. This would be front page news because the last 3 budgets submitted by President Obama have failed to pick up a single vote - even from members of his own party.

To quote that famous philosopher Bugs Bunny: "What a maroon."




Because, after all, money grows on trees, doesn't it?

The Hill:

House Democrats on Monday unveiled a 2014 budget proposal that includes $1.2 trillion in new taxes and $200 billion in stimulus spending.

That's about twice the level of stimulus spending that what was in the Senate Democratic budget, which included $975 million in new taxes.

House Republicans have a budget that would lower tax rates and cut spending by $5.7 trillion compared to the Congressional Budget Office baseline.

The House Democratic budget, authored by Budget Committee Ranking Member Chris Van Hollen (D-Md.), would raise $1.2 trillion in revenue over ten years by ending tax breaks for both corporations and individuals.

"We focus immediately on accelerating the economic recovery, on growing jobs rather than shrinking jobs," Van Hollen told reporters.

The Democratic budget also includes higher guaranteed transportation spending. 

Van Hollen said his budget included more spending cuts than tax increases if the $1.5 trillion in cuts approved by the last Congress are included.

Van Hollen noted that the House Democratic budget, like that of Senate Democrats, turns off nine years of automatic sequestration cuts that began to go into effect on March 1. He said that this would save 750,000 jobs in 2013 alone compared to the House Republican budget, which cuts $4.6 trillion in spending on top of the sequester cuts over ten years.

The Van Hollen budget, like the Murray plan, ends up with public debt at 70 percent of gross domestic product and with revenue at 19.8 percent. Its spending is at 22.1 percent of the economy in 2023, compared to 21.9 percent for the Murray budget.

House Republicans dismissed the Van Hollen effort as "unserious."

Gee...ya think? One day, someone is going to explain to me the reasoning behind the idea that you can cut the budget and propose massive spending increases at the same time. That isn't "unserious." It's madness.

If the Senate Democratic budget was a fantasy, the House Dems have birthed a sci-fi epic. We anxiously await the budget - already two months late - from the president next month. Perhaps this time, someone in Congress will make a mistake and actually vote for the president's plan. This would be front page news because the last 3 budgets submitted by President Obama have failed to pick up a single vote - even from members of his own party.

To quote that famous philosopher Bugs Bunny: "What a maroon."




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