Democrat Van Hollen has a budget plan which will continue budget deficits as far as the eye can see with no attempt to balance the budget. In a bit of legerdemain, he counts money that doesn’t exist but was envisioned as having been spent on future wars. He does nothing about entitlement programs – the elephant in the room – and he adds a trillion dollars in new taxes.
Rep. Chris Van Hollen of Md., the House Budget Committee’s top Democrat, who proposed this budget also called Ryan’s budget plan “Romney’s on steroids.” Van Hollen’s plan is Obama’s plan which has been on steroids for four years.
Van Hollen’s is a $3.7 trillion budget which continues to add over a trillions to the debt . His plan shrinks the GDP from 8% to 2.7% in 2022 but the debt continues to grow and he makes no attempt to balance the budget.
He plans to spend $80 billion on education, $5 billion for police and firefighters, and $50 billion for new highway projects, something that was supposed to happen with the Stimulus which only ended up creating temporary and part-time jobs.
His plan adds $1 trillion in new taxes (revenue) by going after tax deductions for the rich and adding the Buffet Rule. His budget sets aside the sequester which is a minuscule cut to the increase in spending.
His plan does not address entitlement programs and he allows the programs to continue growing at an unsustainable rate. He counts future money never spent on the wars as income to reduce the debt. It’s the Bernie Madoff approach to accounting.
Ryan’s plan would reduce the deficit to 1.2% of GDP and balance by 2040. It calls for entitlement changes to save the programs and to repeal and replace Obamacare. It calls for cutting some entitlement programs and lowering individual and corporate tax rates and closing tax loopholes, ending subsidies and shelters.
Van Hollen doesn’t want to endanger the increased spending on social welfare in our nanny state.
Obama has a plan to save money though. No, it’s not to cut the lavish family vacations and White House parties. He is going to cut the Easter egg roll on the White House lawn.