I had no idea they have 80 members. Let's hope they make themselves known in a BIG WAY! clo
04/11/2011 02:51 PM
Congressional Progressive Caucus Releases People's Budget
SustainableBusiness.com News
The 80 member Congressional Progressive Caucus developed its own verson of the FY 2012 budget to counter that offered by Paul Ryan (R-WI).
"We believe it's essential to offer a clear contrast to the monumentally reckless Republican proposal, which would lead us down a road to ruin."
"Their plan is humane, responsible, and most of all sensible, reflecting the true values of the American people and the real needs of the floundering economy," says Jeffrey Sachs in the Huffington Post. "Unlike Paul Ryan's almost absurdly vicious attack on the poor and working class, the People's Budget would close the deficit by raising taxes on the rich, taming health care costs (including a public option), and ending military spending on wars and wasteful weapons systems."
Sachs calls Paul Ryan's plan an artless war on the poor that would take a meat-cleaver to Medicaid (health care for the poor), Medicare (health care for older people), food stamps, child care, the environment, and the rest of government other than the military.
President Obama's budget, which he calls a center-right muddled proposal, would keep most of Reagan and Bush-era tax cuts in place, and like Ryan, would keep total taxes at about 20% of GDP. That would result in a major long-term squeeze on vital programs such as community development, infrastructure, and job training. Obama's plan doesn't close the budget deficit, which remains as high as 3.1% of GDP in 2021.
The People's Budget, on the other hand is in the progressive middle, he says. Like Ryan's plan, it would cut the budget deficit to zero by 2021, but unlike his plan, it would do it in an efficient and fair way.
It would close the budget deficit by raising tax rates on the rich and giant corporations, while also curbing military spending and wrestling health care costs under control, partly by introducing a public option. It would raise tax revenues to 22.3% of GDP by 2021, closing the budget deficit while protecting the poor and promoting needed investments in education, health care, roads, power, energy, and the environment in order to raise America's long-term competitiveness.
In one opinion survey after the next, the public wants the wealthiest Americans and corporations to pay more taxes. They want to stop runaway health care costs through a public option, one that would introduce competition to drive down bloated private health insurance costs. The public says we should get out of Iraq and Afghanistan and reduce Pentagon spending.
Read the Details on the People's Budget and this summary:
http://grijalva.house.gov/uploads/The%20CPC%20FY2012%20Budget.pdf
Website: http://grijalva.house.gov/uploads/CPC.Budget.112th.Memo.pdf
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