Democrats aren’t even going to propose a budget this year, the first time Congress hasn’t even proposed on since 1974. You could argue that with an election coming up that Dems don’t want to give the voters any more reason to hate their spending and taxing, but Reps. Paul Ryan and Jeb Hensarling aren’t hearing any of that noise. Not only do they want a budget, but they want spending cuts as well.
This is where people point out that “you Republicans always say you want spending cuts but never say what you’re going to cut” and say something derogatory towards George Bush. That is true, and yes, George Bush was terrible when it came to borrowing and spending. He also hasn’t been in office for over two years, and the last two years he was there was with the Dems in control of both the House and the Senate. Just saying.
As for what to cut, Ryan and Hensarling not only have specifics, they have specifics to the tune of $1.3 TRILLION. An overview…
– Cancel unused bailout funds. The financial rescue package has morphed into a Washington slush fund for special interests. To prevent its continued abuses, we should terminate the Troubled Asset Relief Program.
– Cancel unspent “stimulus” funds. We need more jobs, not more debt.
– Reduce government employment and freeze government pay. We need to grow the economy, not government.
– Cut and cap discretionary spending. After an 84 percent increase in discretionary spending, Washington has added trillions of dollars to our debt, yet failed to produce the jobs promised. We should return spending to pre-Obama levels and establish discretionary spending caps.
– Reform Fannie Mae and Freddie Mac. We need to phase out the federal control of these mortgage giants, limit taxpayer exposure and combat crony capitalism.
There is actually legislation behind these cuts, this was just an overview. Give the whole article a read, because they also go into what can be done to make sure we pass and balance a budget every year.