According to the Budget and Accounting Act of 1921, the president must annually submit a proposed budget to Congress for the next fiscal year by the first Monday in February. Although he was late, as usual, President Obama did submit his budget proposal on March 4. But because Republicans control the House of Representatives, and politics controls everything, the president’s budget was, of course, dead on arrival. Although there is no reason why Republicans should object to Obama’s budget, they have now introduced their own.
- One, it is too big.
- Two, it is not balanced.
- Three, it increases spending every year.
- Four, it increases the national debt every year.
- Five, it is filled with unconstitutional spending.
- And six, almost everything House Republicans say about their budget is a lie.
On the current path, the federal government will spend roughly $48 trillion over the next ten years. By contrast, this budget will spend nearly $43 trillion.On the current path, from fiscal year 2015 to 2024, spending will grow, on average, by 5.2 percent a year. Under our budget, spending grow, on average, by 3.5 percent a year.The House Republican budget strengthens the safety net. Under this plan, spending continues to grow, but states have more flexibility to tailor government programs to their people’s needs.House Republicans have a long-term solution to protect and strengthen MedicareUnder our budget, we still spend $600 billion on food stamps over the next decade. We will spend more than $3 trillion on Medicaid.House Republicans plan to repair the safety net. Spending on these programs would continue to grow, but states would have greater flexibility to tailor them to their people’s needs.It proposes better ways to provided housing, nutrition, and job-training assistance to families in need.The budget increases spending on Medicaid over the next ten years, from $357 billion in fiscal year 2015 to $403 billion in fiscal year 2024.This budget allocates an additional $410 million to veterans programs.The proposed reforms ensure that we maintain the current maximum Pell award ($5,730) throughout each of the next ten years.There is nothing in this budget that cuts Social Security.
This article originally appeared at LewRockwell.com.