Tags: budget | democrats

Van Hollen: Democrats' Budget Will Cut Deficit More Than Obama's

Wednesday, 21 Mar 2012 12:47 PM

By Greg McDonald

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Maryland Rep. Chris Van Hollen says Democrats plan to offer an alternative budget that cuts the deficit even more than President Barack Obama’s and also follows “the framework” of recommendations offered last year by the Simpson-Bowles commission.

Van Hollen, the ranking Democrat on the House Budget Committee, was short on details during an appearance Wednesday on MSNBC’s “Morning Joe.”

But he did say the Democrats’ plan to be presented next week would be a fair and more balanced approach to dealing with the debt crisis than the Republican proposal unveiled Tuesday by GOP Budget Committee Chairman Paul Ryan.

“We bring the deficit under 3 percent of GDP at the end of the 10-year period,” Van Hollen said, adding the plan includes a combination of cuts and additional revenue from closing tax loopholes for upper-income Americans.

When pressed about how it would differ from Obama’s budget, which the White House claims will cut the deficit by $3.5 trillion over 10 years, Van Hollen said:

“Ours will be slightly further in terms of deficit reduction than the president’s. Not a lot, but slightly.”

Van Hollen offered no clear accounting of whether the Democratic plan would actually adopt any of the recommendations offered by the Simpson–Bowles commission, which was created by Obama in 2010 to address the nation’s looming fiscal crisis.

The report produced by the commission, headed by former Wyoming Republican Sen. Alan Simpson, and former Clinton White House Chief of Staff Erskine Bowles, was rejected by Obama and lawmakers because of its call for large tax increases and deeper spending cuts.

Last year, the bipartisan congressional Joint Select Committee on Deficit Reduction also rejected the commission’s call for at least $4 trillion in spending cuts over the next 10 years.   
 

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Democrats Keep Obama at Distance Ahead of Mid-Term Elections

Friday, 29 Aug 2014 22:00 PM

Barack Obama's Democrats are walking a tightrope 10 weeks before US congressional elections: do they solicit the unpopul . . .

Mitch McConnell's Campaign Manager Resigns Amid Iowa Scandal

Friday, 29 Aug 2014 21:55 PM

Senate Minority Leader Mitch McConnell's campaign manager resigned Friday amid fallout from a scandal in Iowa involving  . . .

Obama: GOP Captive to Ideologically Rigid Group

Friday, 29 Aug 2014 21:17 PM

President Barack Obama on Friday blamed dysfunction in Congress on a Republican Party he said is captive to an ideologic . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved