GOP’s Recipe for Fiscal Disaster: CUT/GO
December 29, 2010
(ChattahBox Political News)—The Republicans in the House are setting the stage to break the federal budget with more unpaid for tax cuts that would add to the deficit. And block any revenue stream to pay for the services and programs Americans have become accustomed to. So, what is their answer? Republican leaders want to cut existing programs to pay for any new spending and then cut again, until they have achieved their Randian Libertarian paradise, wherein the wealthy and the federal government can be relieved of their social contract to help the less fortunate. The House Republicans call their plan CUT/GO, as opposed to the Democratic PAY/GO policy. And as part of the plan to eventually dismantle the social safety net of Medicare, Social Security and Medicaid, the GOP also proposes altering the rules of the legislative reconciliation process to make it easier to pass deficit-busting tax cuts for the wealthy and big corporations. Welcome to the Republican controlled House of Representatives.
Talking Points Memo reports that the new reconciliation rules are just one part of the CUT/GO policy to ensure any new spending is paid for with cuts in existing programs, while leaving tax breaks unpaid for.
“The Center on Budget and Policy Priorities examined the GOP’s proposed new rules for the House, and here’s what they found.”
“The new rules would stand the reconciliation process on its head, by allowing the House to use reconciliation to push through bills that greatly increase deficits as long as the deficit increases result from tax cuts, while barring the use of reconciliation in the House for legislation that reduces the deficit if that legislation contains a net increase in spending (no matter how small) that is more than offset by revenue-raising provisions.”
The New York Times’ Paul Krugman calls out the GOP’s fake deficit hawks as flim-flam men.
“I hear that a lot of journalistic insiders were annoyed when I began calling out self-styled deficit hawks like Paul Ryan as flim-flammers. But they are; nobody, and I mean nobody, in a position of influence within the GOP cares about deficits when tax cuts for the affluent are on the line. Deficit hawkery is just a stick with which to beat down social programs,” writes Krugman.
So, when you hear Republicans rail against the dangers of the ballooning federal deficit, they are really full of it.