Thursday, April 2, 2009

GOP Budget Plan

This budget actually looks pretty impressive, comparatively speaking. 4.8 Trillion less spending over the next 10 years, I like that. Five year freeze on nondefense discretionary spending, I'm gonna side with Colin Powell on this one. Basically what he said was if you enact the freeze, you freeze our development. The budget repeals the 787 billion economic stimulus package except for the extension of unemployment benefits. Thats good, I think. It also calls for the fed share of Medicaid payments converted to block grants for states. I know we need a change in Medicaid, but I don't think this is the right way to go. The GOP budget includes 3.6
trillion less borrowing, that's very good. Under the budget spending falls to 20.7% of the nations gross domestic product, as opposed to 24.5% under the Obama proposal. New tax rates and a repeal of the estate tax, corporate tax rate drops from 35% to 25%. I'll have to consider the proposed new tax rates before I render an opinion. The proposed GOP budget plan also permanently extends Bush tax cuts and suspends capital gains through 2010. Heres a quote from Wisconsin Rep. Paul Ryan, the ranking Republican on the House Budget Committee, "The president's budget is little more than a thinly veiled attempt by Washington to spend its way into prosperity, tax its way into tax relief and borrow its way into debt reduction. This simply cannot work,". I have to agree. More, "Rather than getting spending under control, (the Democratic plan) sends spending out of control," he said. "Rather than keeping taxes low to create jobs, it chases ever higher spending with ever higher taxes and results in ever higher debt; not just a modest increase in our national debt, but an unprecedented, unsustainable increase in red ink." Well it seems like the GOP heard our pleas to stop the spending, but are they really listening to the American people or serving their own interests. I guess we'll have to wait and see. AFT

Heres the link,

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