The day has arrived! The US Senate has passed a budget 50-49, first one in 4 years! Now, don't get your hopes up. $975 billion in new tax revenue within the next ten years. The budget never balances, has deficits EVERY year, and 10 years out still has a deficit of a half a trillion.
The Democrats who approved (not a single GOP vote) this will say they voted for spending cuts. The Murray budget contains $975 billion in spending cuts, including $275 billion in new cuts to Medicare and Medicaid spending. But it also turns off $1.2 trillion in automatic cuts scheduled over nine years. Factoring that in, the budget does not constitute a net spending cut.
But you knew they wouldn't ever, ever cut spending, right?
Is this the leadership you want? Inaction for four years, and then when they do pass a budget, it has higher taxes and more deficits. Sen Jeff Sessions summed things up pretty well:
"Honest people can disagree on policy. But where there can be no honest disagreement is the need to change our nation's debt course. The singular truth that no one can escape is that the House budget changes our debt course while the Senate budget does not. The Senate budget increases taxes, increases spending, and adds $7.3 trillion to our debt. It has zero real deficit reduction."
"The massive debt we have racked up to finance our wasteful government is pulling down growth today. Gross debt over 90 percent of GDP weakens growth now. Not tomorrownow.
"In other words, the more money we borrow to mail out government checks, the more and more people there are that will need government checks. This is why we can no longer define compassion as borrow-and-spend. Our goal should be to help more Americans find jobs, better wages, and to achieve financial independence.
Read more: Web Link