Tags: budget | democrats

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

Wednesday, 21 Mar 2012 12:47 PM

By Greg McDonald

  Comment  |
   Contact  |
  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.

  Comment  |
   Contact  |
  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:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Rep. Michael Grimm's Future Dim After Guilty Plea

Friday, 26 Dec 2014 09:28 AM

Less than 36 hours after the surprise guilty plea to a single count of tax fraud by Rep. Michael Grimm (R.-New York), ta . . .

Hillary Clinton Courting Liberals as 2016 Decision Nears

Thursday, 25 Dec 2014 17:55 PM

Hillary Clinton is shoring up support among liberals within the Democratic Party in hopes of beating back a challenge fr . . .

Rick Perry Praises 'Front Runner' Jeb Bush

Thursday, 25 Dec 2014 11:32 AM

Texas Gov. Rick Perry tipped his hat to a likely rival this week, calling former Florida Gov. Jeb Bush probably the fro . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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