Wednesday, April 4, 2012

Federal Budget Legislation – Lines In the Sand

The gulf between the House passed budget plan and President Obama’s speech to the Associated Press in response represents the same sort of gridlock which has prevented any sort of legislative solution to America’s fiscal problems during Obama’s first term: Republicans seek to slash the size of the federal government by cutting expenditures and cutting revenue, while the Obama administration seeks to eventually balance the federal budget by cutting expenditures and increasing revenue. It’s election year politics at its worst.

President Obama castigates the House budget plan as “thinly veiled social Darwinism,” pointing out that the House bill reduces the deficit by $5.3 trillion over ten years, while “spending” $4.6 trillion on lower tax rates for millionaires in the same decade. Meanwhile, the Senate has not passed any budget at all for the last three years. The irresponsibility of our elected leaders from both political parties, in their refusal to work towards compromise, and use of the budget process to create political talking points rather than solutions to national problems, is simply mortifying.

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