There are two words that describe the Republicans' Senate Budget Committee's proposed budget: “dishonesty” and “austerity” for most Americans. Let's deal with the dishonesty part first. In due course, the austerity will be apparent.
The Senate Budget Committee's statement, entitled “A Balanced Budget That Supports Economic Growth and Expands Opportunity for Hardworking Americans,” claims to support stronger economic growth, and provide greater opportunity. We might well ask “how much growth” “growth for whom” and “opportunity for whom?”
Certainly not for me and thee, since the Senate budget projects substantially decreased Federal outlays over the decade 2016 – 2025, compared to the CBO baseline budget. This decreased Federal spending comes from:
– continuously slower growth than the CBO baseline in non-defense discretionary Federal programs (13.2% increase over the decade vs. a 24.2% increase in the baseline); and
– continuously slower growth in mandatory spending (Social Security, Medicare and other health programs, food assistance, unemployment support, other entitlement spending) (33.9% vs. 56.3% for the baseline).
Meanwhile, the Senate plan calls for slightly increased defense spending over the period compared to the baseline (24.4% vs. 23.9% increase).
That's right with these levels of projected spending we're looking at austerity for the poor, the young, the aged, and the middle class, since all the programs they benefit from will undergo a continuing squeeze for the Senate's budget plan.
Read More