After 4 years of going without a budget, Senate Democrats bring forth a turkey
Deficit? What deficit?
Deficit? What deficit?
The Senate budget proposal - the very first they've deigned to give us in 4 years - would not balance the budget, doesn't cut any spending, raises taxes by a trillion dollars, and piles on $100 billion in "stimulus" spending.
No - you weren't just redirected to the Comedy Central webpage. That is the actual gist of their budget proposal.
The first budget from Senate Democrats in four years includes nearly $1 trillion in new taxes but would not balance the budget.
The blueprint unveiled by Senate Budget Committee Chairwoman Patty Murray (D-Wash.) on Tuesday to her Democratic colleagues would also turn off the next nine years of the sequester and replace those spending cuts with a 50-50 mix of tax increases and spending cuts.
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.
The details of Murray's budget came hours after House Budget Committee Chairman Paul Ryan (R-Wis.) released his budget, which reduces tax rates and slashes spending much more deeply that Murray's budget.
The Ryan budget would balance in 10 years without raising taxes and by reducing spending over the next decade by $5.7 trillion compared to the CBO baseline.
What an astonishingly insincere, and unserious effort. It doesn't have a chance of passage, of course, (neither does the Ryan budget proposal), but it is useful because it reveals the thinking of both parties going into what promises to be serious negotiations over cutting entitlements and reforming the tax code.
The Democrats don't want to cut the budget, they want a trillion more dollars to spend, and they want to throw another $100 billion down the rat hole of stimulus spending. It's hard to imagine a more telling example of liberal ideology run wild than this budget proposal.
It makes better stand up comedy than fiscal policy.