Yesterday, House Republicans released their budget resolution for FY 2013. While many of the proposals require more analysis, one thing is absolutely clear: this budget does not ask all Americans to do their share to get our fiscal house in order and create an economy that is built to last. Instead, the GOP plan gives those making over $1 million per year an average tax cut of at least $150,000 and preserves tax breaks for oil and gas companies and hedge fund managers. These tax breaks are then paid for by ending Medicare as we know it and implementing deep cuts in what we need to grow our economy and create jobs in years to come.
Others will go into deep detail on the tax and health proposals in the budget resolution. I want to focus on funding known as “nondefense discretionary spending.” It deserves a better name. This is annual funding that pays for many of the investments most critical to expanding economic growth and opportunity, including education, research and development, and clean energy.
With his strong focus on cutting waste and unneeded spending, the President has already signed into law several rounds of cuts that will bring non-security spending to its lowest level as a share of the economy since Dwight Eisenhower was President. Put another way, we are cutting this category of spending as a share of economy by 50 percent from 2010 to 2022.
But when it comes to annual, non-defense spending, the House Budget Resolution is not about cutting fat. It is cutting deep into the muscle that America needs to compete and win in the 21st century.
Fonte: White House