Washington DC, 1 April-2014, Jason Easley: The White House responded to Paul Ryan’s latest attempt to cut taxes for the rich with a faux budget with a devastating fact bomb.
Here is the White House reaction to Paul Ryan’s budget via Press Secretary Jay Carney:
To build real, lasting economic security for the middle class, the President and Democrats in Congress have a plan to grow our economy from the middle out, not the top down, and create more opportunities for every hardworking American to get ahead. Unfortunately, Republicans in Congress do not have a plan that works for the middle class and the House Republican Budget is the same old top-down approach. Because of a stubborn unwillingness to cut the deficit in a balanced way by closing tax loopholes for the wealthy and well connected, the House Republican Budget would slow the economy, stack the deck against the middle class, and threaten the guaranteed benefits seniors have paid for and earned.
The House Republican Budget would raise taxes on middle class families with children by an average of at least $2,000 in order to cut taxes for households with incomes over $1 million. It would force deep cuts to investments in our roads and bridges, scientific research to cure diseases like Alzheimer’s and at every level of education from early childhood to community college. It would end Medicare as we know it, turning it into a voucher program and risking a death spiral in traditional Medicare. Instead of ensuring that Americans earn a fair wage for a hard day’s work and lifting millions of people out of poverty, the House Republican approach undermines Americans working hard to support their families by slashing food stamps and Medicaid.
The House Republican Budget stands in stark contrast to the President’s Budget, which would accelerate economic growth and expand opportunity for all hardworking Americans, while continuing to cut the deficit in a balanced way. The President has put forward a Budget that rewards hard work with fair wages, equips all children with a high-quality education to prepare them for a good job, puts a secure retirement within reach, and ensures health care is affordable and reliable, while at the same time asking the wealthiest to pay their fair share and making tough cuts to programs we can’t afford. And by paying for new investments and tackling our true fiscal challenges, the President’s Budget builds on the progress we’ve already made to cut the deficit by more than half since 2009 and cuts the deficit as a share of the economy to 1.6 percent by 2024. It also stabilizes the debt as a share of the economy by 2015 and puts it on a declining path after that.
Budgets are about choices and values. House Republicans have chosen to protect tax breaks for the wealthiest rather than create opportunities for middle class families to get ahead. The President believes that is the wrong approach and that we should instead be making smart investments necessary to create jobs, grow our economy, and expand opportunity, while still cutting the deficit in a balanced way and securing our nation’s future.
Republican Speaker of the House John Boehner is trying to pass off Rep. Paul Ryan’s (R-WI) exercise in fantasy math as a jobs plan, “”With this balanced budget, Republicans are continuing to build on our plan to get Americans working again. This fiscal blueprint helps people who work hard and do the right thing by promoting an all-of-the-above energy strategy, overhauling the tax code, repealing Obamacare, strengthening entitlement programs, and beginning to pay down our debt. All of this adds up to more jobs and more security for hardworking people, and less spending and less government in Washington.”
The new Ryan budget has the same ideological mission as all of his previous attempts at faux budgeting. Paul Ryan and the House Republicans are still trying to sell their job creator mythology. At the heart of the Ryan budget is the belief that if the “job creators” a.k.a. the wealthiest Americans are given more, they will benevolently create more jobs and boost the economy.
What really happens when the rich are given more at the expense of everyone else is that the already wealthy get richer while income inequality grows.
The big secret behind the Ryan budget is that it isn’t really a budget. Paul Ryan and the House Republicans aren’t interested in laying out a fiscal vision for the country’s future.
The mission behind Ryan’s budget is a massive upward redistribution of wealth away from those he views as lazy takers.
Just like the Ayn Rand fantasy novels that guide his political career, Paul Ryan’s budget is a work of fiction, and the Obama White House dissolved the fantasy with a dose of reality.
Note: Obama White House Drops A Fact Bomb That Eviscerates Paul Ryan’s Bogus Budget was written by Jason Easley for PoliticusUSA. © PoliticusUSA,