Hank: Another year, another budget of misplaced priorities

‘Ryanomics’ budget ends Medicare guarantee, provides huge tax cuts for wealthy

WASHINGTON, D.C. – Today, Rep. Hank Johnson (GA-04) dismissed the latest version of the Ryan Republican budget – he called Ryanomics – as another practice in misplaced priorities that ends the Medicare guarantee, provides huge tax cuts for the wealthy, slows our economic recovery, and destroys American jobs. Rather than address the top priorities of the middle class, House Republicans have simply presented more of the same failed policies that the American people rejected last fall.

Click image or HERE to view speech.

“Ryanomics – the House-Republican budget – the so-called path to prosperity is based on a fanciful theory of trickle-down economics,” said Johnson. “This is a well worn idea that belies the facts of what we’ve seen time and time again. That somehow we can create prosperity for all by giving tax breaks and loop holes to the wealthy while we slash spending on programs that help the middle class and the poor – is ridiculous. It’s failed in the past and will fail again.”

Budget Committee Chairman Paul Ryan builds on the failed proposals of the last two years by making them worse, said Johnson. This Republican budget will result in two million fewer American jobs next year alone, decrease GDP 1.7 percent, and stall our nation’s recovery. To pay for tax cuts for the wealthy, it could raise taxes on middle class families by as much as $2,000 per year, according House Democratic leadership.

The Republican fiscal plan is simply an exercise in contradictions. It repeals the Affordable Care Act while counting on the law’s savings and revenues to balance the budget. It claims to protect Medicare but actually alters it beyond recognition for future seniors. It tries to balance the books without a balanced plan for deficit reduction.

“Enough is enough. Democrats will have a fair, balanced plan to cut spending responsibly, increase revenues, and create growth with jobs,” Rep. Johnson added. “Let’s vote on a budget that reflects our values – ensuring fairness for the middle class, opportunity for families, and prosperity for all Americans.”

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