Advertisements

Tag Archive: United States Senate Committee on the Budget


Senate GOP Fails In Final Bid To Restore Military Pension Cuts To Budget Bill

 

 

 

 

” A final effort by Senate Republicans to halt cuts to pensions of military retirees failed late Tuesday, after Democrats blocked an amendment to the controversial budget bill.

  The two-year budget agreement, which cleared a key test vote earlier in the day, was expected to get a final vote no later than Wednesday.

  Ahead of the final vote, Sen. Jeff Sessions, R-Ala., tried unsuccessfully to use a parliamentary tactic to force a vote on the amendment, which he wrote to undo the cuts for military retirees.

  A provision in the already House-passed bill would cut retirement benefits for military retirees by $6 billion over 10 years.

  Sessions wanted to instead eliminate an estimated $4.2 billion in annual spending by reining in an IRS credit that illegal immigrants have claimed.

 

 

 

 

 

 

 

 

 

Advertisements

 

Senate Democrats Adopt First Budget in Four Years

 

 

 

” Lawmakers on Saturday voted 50-49 to endorse a fiscal 2014 measure that proposes to raise $1 trillion by clamping down on tax breaks for the wealthy while paring spending on defense, farm subsidies and other programs.

“Budgets are about far more than numbers on a page — they are about the values and priorities of the American people,” said Senate Budget Committee Chairman Patty Murray, a Washington Democrat and the plan’s chief sponsor.

The proposal highlighted differences between the two parties over taxes, spending and the size of government. The vote clears the way for the next phase in Washington’s budget battle, which probably will revolve around the need to raise the U.S. debt limit. Federal borrowing authority is scheduled to expire May 19.

Republicans said the Senate Democrats’ proposal would do too little to rein in government red ink.

“Honest people can disagree on policy, but there really cannot be disagreement on the need to change our nation’s budget course,” said Alabama Senator Jeff Sessions, the top Republican on the chamber’s Budget Committee.

Four Democrats voted against the final version: Max Baucus of Montana, Mark Begich of Alaska, Kay Hagan of North Carolina and Mark Pryor of Arkansas. All are up for re-election in 2014.”

 

 

 

 

Video: Every Senate Budget Committee Democrat Votes ‘No’ on Balancing the Budget

 

 

 

” Their own plan doesn’t even come close to balancing, of course, and they’re not interested in other ideas to get there.  The first Republican amendment they torpedoed yesterday called for increasing federal spending at a clip of “only” 3.4 percent per year over the next decade, rather than the major acceleration that Democrats have advanced.  The second proposed making it more procedurally difficult to pass a budget that does not balance with ten years.  Watch as each Democrat-aligned committee member votes in lockstep against these provisions.  Make no mistake, they are explicitly rejecting a balanced federal budget (the roll call begins at the 1:15 mark):

 

 

 

 

As a point of fact, Johnson and Sessions are correct on these counts.  The Hill and other news organizations have confirmed that Democrats’ budget numbers registerat most $800 billion in deficit reductions over ten years, even setting aside its accelerated spending course.  Their exploitation of the unrealistic CBO baseline — which we explained yesterday — renders a number of their “cut” claims even more dubious.  Especially dishonest was Murray’s statement (not included the shortened version of the video), er, “in rebut” to Sessions’ amendment, in which she claimed that the new budget, plus previous savings, add up to the Simpson-Bowles recommended level of $4 trillion in deficit relief.  Between phony gimmicks and double-counting, she’s not even in the ballpark of $4 trillion, which is probably why Sessions felt compelled to use words like “lie” throughout the hearing.  I’ll leave you with liberal commentator Ezra Klein expressing…some skepticism over the Democrats’ first budgetary offering since 2009:

 

 

 

HT/Weasel Zippers

 

 

 

 

 

 

 

—-

Federal Welfare Spending to Skyrocket 80 Percent in Next Decade

 

 

Currently, 95% of spending on means-tested poverty assistance falls into four categories: cash assistance, health assistance, housing assistance, and social and family services.  Welfare spending has increased on a year-over-year basis regardless of whether the economy has improved or unemployment has declined, and is projected to continue this dramatic rise indefinitely.  Spending on these poverty programs will rise approximately 80% from FY2013-FY2022, representing a total cost of $11 trillion – roughly one quarter of cumulative federal spending.  Slowing the growth rate from 80% to a still massive 60% would thus result, according to standard congressional budget accounting, in a $1 trillion savings over ten years. ”

 

 

 

 

75 Percent of Obama’s Proposed Tax Hikes to Go Toward New Spending

 

 

 

 

 

 

 ” Seventy-five percent of the new revenue pulled in by President Barack Obama’s “fiscal cliff” plan would go toward new spending, not toward deficit reduction, the Republican side of the Senate Budget Committee contends. Here’s a chart, detailing how money from the new tax hikes would be distributed: “