Monday, July 18, 2011

Tea Party Debt Plan Takes Center Stage, Vote Expected This Week


Why are Harry Reid and Democrats giving any oxygen to a Tea Party debt plan instead of this, the People's Budget (read it here)?

The Progressiv­e Caucus's budget and plan to balance the budget reduces the deficit by $5.1 trillion. It beats Obama's AND Republican­s' plans.

As Krugman has said, the Progressiv­es' budget "balances the budget through higher taxes and defense cuts, plus some tougher bargaining by Medicare (and a public option to reduce the costs of the Affordable Care Act). The proposed tax hikes would fall on higher incomes, raising the cap on payroll taxes (takes care of Social Security's solvency forever)..­. and unlike the Ryan plan, it actually makes sense."


Read the Article at HuffingtonPost

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