Dems Back Spending Binge & Push Medicare Closer to Bankruptcy

March 29, 2012

FYI, a similar version of this release below went out to the following districts: Shelley Adler (NJ-03), Pete Aguilar (CA-31), Jason Altmire (PA-12), Jeff Anderson (MN-08), George Badey (PA-07), Ami Bera (CA-07), Tim Bishop (NY-01), Kathy Boockvar (PA-08), Leonard Boswell (IA-03), Bruce Braley (IA-01), Cheri Bustos (IL-17), Lois Capps (CA-24), Andrei Cherney (AZ-09), David Cicilline (RI-01), Tarryl Clark (MN-08), Gerry Connolly (VA-11), Mark Critz (PA-12), David Crooks (IN-08), John Delaney (MD-06), Val Demings (FL-10), Joanne Dowdell (NH-01), Tammy Duckworth (IL-08), Bill Foster (IL-11), Lois Frankel (FL-22), Pete Gallego (TX-23), Rob Garagiola (MD-06), John Garamendi (CA-03), Alan Grayson (FL-09), Raul Grijalva (AZ-07), Pam Gullenson (ND-AL), Clark Hall (AR-01), Brad Harriman (IL-12), Jose Hernandez (CA-10), Brian Higgins (NY-26), Ruben Hinojosa (TX-15), Paul Hirschbiel (VA-02), Rush Holt (NJ-12), Steven Horsford (NV-04), Q. Byrum Hurst (AR-04), Steve Israel (NY-03), Bill Keating (MA-09), Ann Kirkpatrick (AZ-01), Pat Kreitlow (WI-07), Ann McLane Kuster (NH-02), Rick Larsen (WA-02), Alan Lowenthal (CA-47), Nita Lowey (NY-17), Dan Maffei (NY-24), Larry Maggi (PA-18), Carolyn McCarthy (NY-04), Gary McDowell (MI-01), Jerry McNerney (CA-09), Michael Michaud (ME-02), Joe Milkosi (CO-06), Brendan Mullen (IN-02), Patrick Murphy (FL-18), Mark Murphy (NY-11), Rick Nolan (MN-08), John Oceguera (NV-03), Bill Owens (NY-21), Sal Pace (CO-03), Frank Pallone (NJ-06), Ed Perlmutter (CO-07), Scott Peters (CA-52), Chellie Pingree (ME-01), Nick Rahall (WV-03), Ciro Rodriguez (TX-23), Raul Ruiz (CA-36), Lori Saldaña (CA-52), Brad Schneider (IL-10), Brandon Shaffer (CO-04), Carol Shea-Porter (NH-01), Kyrsten Sinema (AZ-09), Louise Slaughter (NY-25), Betty Sutton (OH-16), Mark Takano (CA-41), John Tierney (MA-06), Paul Tonko (NY-20), Manan Trivedi (PA-06), Niki Tsongas (MA-03), Christie Vilsack (IA-04), Bill Vinsko (PA-11), Jamie Wall (WI-08), Tim Walz (MN-01), Charlie Wilson (OH-06), John Yarmuth (KY-03)

Slaughter Backs Democrat Spending Binge & Pushes Medicare Closer to Bankruptcy
New York Democrat Votes for Democrat Plan Which Never Shows a Balanced Budget, Choosing to Tax and Spend More While Medicare Nears Bankruptcy

WASHINGTON — Louise Slaughter defined her fiscal priorities today when she lined up behind the House Democrats’ budget proposal (Roll Call #150, 3/29/12), which never actually shows a balanced budget. Besides demonstrating that Democrats apparently have no interest in making the federal government live within its means, Slaughter’s budget also raises taxes by a trillion dollars, contains billions of dollars in more stimulus spending, and puts Medicare on the path to bankruptcy.

“With her budget vote this year, Louise Slaughter claims the federal government shouldn’t have to live within its means even though families and small businesses in New York all do,” said NRCC Communications Director Paul Lindsay. “Instead, Slaughter’s plan would simply be more job-killing taxes, wasteful stimulus spending and borrowing while putting Medicare on the path to a catastrophic bankruptcy that would force massive tax hikes or drastic cuts to benefits for seniors.”

House Democrats don’t even claim their budget would ever be balanced:

“But the national debt would continue to grow — and documents accompanying the budget resolution do not indicate the proposal would lead to a balanced budget over any time frame.” (Rosalind S. Helderman, “Democrats release budget to compete with Ryan plan,” The Washington Post‘s 2chambers Blog, 3/26/12)

It also keeps Medicare locked in on the path to a catastrophic bankruptcy:

“The plan… does not outline reductions to major entitlement programs that most experts believe will have to be a part of any bipartisan deal to significantly reduce the debt.” (Rosalind S. Helderman, “Democrats release budget to compete with Ryan plan,” The Washington Post‘s 2chambers Blog, 3/26/12)

“Medicare’s trust fund will run dry in 2024, five years earlier than forecast just last year…” (Richard Wolf, “Medicare, Social Security Money Running Out Faster,” USA Today, 5/13/11)

A bankruptcy would mean immediate payroll tax hikes on all working Americans, slashes to Medicare benefits for seniors or a combination of both:

“The projected HI deficit over the next 75 years is 0.79 percent of taxable payroll. Eliminating this deficit would require an immediate 24 percent increase in payroll taxes or an immediate 17 percent reduction in benefits—or some combination of the two. Delaying action would require more drastic tax increases or benefit reductions in the future.” (“Medicare’s Financial Condition: Beyond Actuarial Balance,” American Academy of Actuaries, May 2011)

Dems Back Spending Binge & Push Medicare Closer to Bankruptcy http://ow.ly/9XwZi #madeinwdc

###