Senate Passes First Budget in Four Years with $1 Trillion in New Taxes

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photo via netrightdaily.com

Until today, we went 1424 days without a budget because Harry Reid would not let one get to the senate floor. That has all changed. A democratic budget just passed in the senate. It has about a snowballs chance in hell of getting through the House but at least we know where the Democrats stand.

When Democrats pass spending bills instead of budgets, they can say they don’t really support the spending and tax increases. They are freer to blame Republicans for not having a budget.

The senate passed Patti Murray’s $3.7 trillion dollar budget with $1 trillion in deficit spending.

It passed narrowly, 50-49. Four voted against it and one didn’t vote. It would have had five more democratic votes but the five are up for re-election in red states come 2014. Sens. Max Baucus of Montana, Mark Begich of Alaska, Kay Hagan of North Carolina and Mark Pryor of Arkansas voted against it. Sen. Frank Lautenberg, D-N.J., did not vote.

This budget makes no attempt to balance the budget whereas the House Republican budget does. It cuts the deficit by imposing nearly $1 trillion in tax increases on top of more than $600 billion in higher taxes on top earners enacted in January. There are $875 billion in spending cuts, generated by modest cuts to federal health care programs, domestic agencies and the Pentagon and reduced government borrowing costs, none of which fix the problem of unsustainable debt caused by our entitlement programs.

Ryan’s plan saves $4 trillion with major cuts in Medicaid, food stamps and other safety net programs. It would turn Medicare into a voucher system for future recipients (under age 55) and it would in all likelihood save the program. Currently, for every senior, there are 2-3 people working to pay for their healthcare and social security. Unfortunately, it has become a Ponzi scheme of sorts and needs fixing. Paul Ryan also wants to repeal Obamacare.

The next debt ceiling crisis is September.

Full story at USA Today and Fox News.

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