The House Budget Committee resumed talks today and within minutes Rep. Paul Ryan (R-WI) killed any hopes of an agreement in what’s been dubbed the “Grand Bargain”. The Grand Bargain basically consists of both new revenues via closing tax loopholes on the rich and tax loopholes for corporations, in order for the Democrats to agree to cuts in Social Security and Medicare.
The Democrats have stood fast on no cuts to these entitlement programs that people pay into their entire lives without new tax revenues from the rich and from corporations, by closing the tax loophole which were specifically made for their benefit.
Rep. Paul Ryan disguised his statement with typical right wing spin by saying he would not take, “more from hardworking families”, when in reality the new revenues would come from closing tax loopholes that are designed for the rich and corporations, and not your everyday hard working family.
“Taking more from hardworking families just isn’t the answer. I know my Republican colleagues feel the same way,” Ryan said. “So I want to say this from the get-go: If this conference becomes an argument about taxes, we’re not going to get anywhere. The way to raise revenue is to grow the economy.”
And as expected after killing any thoughts of closing tax loopholes for the rich and for corporations, Ryan then went after Social Security and Medicare, saying booth programs should be “scaled back”.
“Ten thousand baby boomers are retiring every day. Health care costs are rising. Medicare and Social Security are going broke,” Ryan said. “The Congressional Budget Office says if we don’t act, we’ll have a debt crisis. And if that happens, the most vulnerable will suffer first and worst. This debt weighs down our economy even today. … We can’t kick the can down the road anymore. We’ve got to get a handle on our debt — now.”
Just so you know, Social Security has not added one dime to our debt since it came into existence with the Social Security Act which was created in 1935. Social Security is a pay-as-you-go system, which means that payments collected today are immediately used to pay benefits.
Senate Budget Chair Patty Murray (D-WA) made clear Wednesday that Democrats aren’t going to enact GOP priorities without addressing some of their own.
“Compromise runs both ways,” she said. “While we scour programs to find responsible savings, Republicans are also going to have to work with us to scour the bloated tax code– and close some wasteful tax loopholes and special interest subsidies. Because it is unfair — and unacceptable — to ask seniors and families to bear this burden alone.”
Rep. Paul Ryan and his Republican Party refuse any compromise, they say what’s ours is ours and what’s yours is negotiable. He and his party will throw every working class under the bus in order to serve their masters who provided billions in campaign donations to control our government in order to get richer and richer everyday, as everyone else becomes poorer and poorer.
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