Wednesday, March 21, 2012

GOP Budget Plan Draws Sharp Battle Lines

House Budget Committee Chairman Paul Ryan released the GOP budget plan yesterday, reflecting a continuation of gridlock and partisan attacks by each party on the opposition’s core constituencies.  The Obama administration budget attacks the Republican Party’s core constituency by proposing significant tax increases on the very rich, while the House plan attacks the Democratic Party’s core constituencies by proposing draconian cuts in Medicare and Medicaid and repeal of Obama’s signature health care law.

While neither plan stands any chance of getting passed into law this session, the stark contrast signals another year of government by continuing resolution without any significant tax or spending reforms. Once again, election year politics has taken precedence over any hope of legislative solutions to any of America’s many significant economic problems.

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