Wednesday, October 19, 2005

Poor Out - Tax Cuts In

The GOP unveiled its agenda today in there budget cuts proposals. On the chopping blocks is $50 billion to pay for Medicare, Medicaid, and college loans. Is this to help offset the costs of Katrina?

No

It is to make way for their $70 billion in tax cuts, thus putting the US an additional $35 billion in the hole.

So, to pay for their $70 billion in tax cuts, they are actually cutting programs that are actually helping Katrina victims. Here is a novel idea. Instead of cutting the programs that will help Katrina victims, let cut out the tax break we just gave to an oil industry that is already making record profits.

Nice agenda guys.

House Republicans struggle to find spending cuts
By Richard Cowan

WASHINGTON (Reuters) - Republicans struggled on Wednesday to gain support for another round of domestic spending cuts, leaving uncertain the fate of legislation that was to have been debated on the floor of the U.S. House of Representatives on Thursday...

Blunt was referring a bill that Republican leaders had hoped to pass in the House on Thursday to cut mandatory federal programs, such as Medicare, Medicaid and student loans, by $50 billion over the next five years, instead of the previously planned $35 billion...

Rep. Steny Hoyer (news, bio, voting record) of Maryland, a leading Democrat, also said that Republicans have another motivation for pushing a new round of spending cuts.

"What they have proposed will not offset Katrina. It will offset their tax cuts," Hoyer said.

The Republican budget blueprint calls for $70 billion in tax cuts over five years, which would add about $35 billion to the U.S. debt unless more spending reductions are passed.


(Full Story)

2 comments:

Ilana said...

More bad republican agendas. Read the last page of this article.
http://www.boston.com/news/globe/living/articles/2005/10/20/eleven_seconds_and_ten_years/

(Well, read all of it...it's very moving, but the last page will make you mad)

Dingo said...

great story moose. Thanks for the link.