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Ms. KAPTUR. I thank the gentleman from Maryland for yielding.
Mr. Chairman, the best way to balance any budget for our country is to get everyone back to work who wants to work. The President's bipartisan fiscal commission also shows any responsible effort requires a balanced approach that addresses both spending and revenues. By contrast, this budget from the Republicans fails the simple test of addressing both programs--program spending as well as tax break spending--and it fails it badly.
The Republican budget increases tax breaks for millionaires and billionaires while ending the Medicare guarantee for seniors, doubling their out-of-pocket costs for their insurance premium. And at the same time Republicans are doling out a trillion dollars of tax breaks over the next 10 years to the wealthiest people in our country, to multinational corporations and to those on Wall Street who pay as little as 11 percent of taxes.
Meanwhile, the Republican budget will end Medicare as we know it, and it will throw America's seniors at the mercy of insurance companies. Seniors love Medicare, and their families love Medicare. Social Security and Medicare are compacts of trust between generations, and I would not want the next generation to have any less than our generation has had, and I disagree with the Ryan proposal because it divides generations.
The Democratic alternative stands in clear contrast. It reduces the deficit while preserving the social safety net. In fact, the plan of House Democrats would cut the deficit by an additional $1.2 trillion more than the President's budget. It achieves primary balance as early as fiscal year 2018, and puts our economy on a full path to recovery.
The Ryan budget fails to say the reasons for the deficit we face--the $1.4 trillion in the cost of the Afghan and Iraqi wars and the billions and billions spent on Wall Street in bailing them out and all of the costs of unemployment and housing foreclosure that has gone with it.
The Republican budget gives up on jobs and working Americans and caters mainly to the upper 1 percent. And, frankly, it gives up on America's future. The Ryan budget is the roadmap to ruin. It won't create jobs. In fact, it will cause more job loss. It's a dead end budget for America, and I ask my colleagues to oppose it.
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