Later On

A blog written for those whose interests more or less match mine.

Paul Ryan Wants to Cut the Domestic Budget Nearly in Half

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The GOP seems increasingly unhinged. Kevin Drum notes:

House Republicans unveiled their budget plan today:

The House plan envisions major cuts to federal spending over the coming decade, bringing the budget into balance by relying on accelerated economic growth to boost revenue. Under the House plan, defense spending would steadily increase over 10 years while nondefense discretionary spending would decline to $424 billion — 23 percent below the $554 billion the federal government is spending in that category this year.

That sounds bad. But it’s even worse. As always with this stuff, you need to adjust for inflation and population growth. Here’s what that looks like:¹

At $554 billion, the domestic discretionary budget is currently $1,705 per person. Just to keep up with inflation and population growth, that needs to grow to $727 billion by 2027. Instead, Republicans want to cut it to $424 billion.

That’s not a reduction of 23 percent, it’s a reduction of 42 percent. The House budget would decimate spending on national parks, education, food assistance, housing, basic research, transportation, law enforcement, the EPA, and more.

Why? In order to fund a big tax cut for the rich. . .

Continue reading.

Written by LeisureGuy

18 July 2017 at 1:07 pm

Posted in Congress, GOP, Government

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