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House
Republican Buget Unveiled Today Contains Large Cuts In Medicare, Medicaid, And
Other Domestic Programs
The budget
that House Budget Committee Chairman Jim Nussle unveiled today contains deep and
widespread cuts in basic domestic programs such as Medicare, Medicaid, veterans
programs, student loans, school lunches, child care, food stamps, cash
assistance for the elderly and disabled poor, and many other programs.
If enacted, these would represent the deepest cuts in such programs in
U.S. history.
If the
committees cut all programs within their jurisdictions the cuts would
include:
· $214 billion in Medicare reductions over ten years (the budget also provides $400 billion for a Medicare prescription drug benefit); · $93 billion in Medicaid, the basic health insurance program for low-income families, children, and elderly and disabled people; · $15 billion in veterans programs; · $12 billion in food stamps; and · $7 billion in farm programs. Blue-Ribbon Business Group Issues Stern Warning
on Deficits And Advises Against Further Tax Cuts
The report from CED — a highly respected research and policy organization that consists of 250 corporate CEO’s, university presidents, and similar officials — strongly opposes the Administration’s proposals to institute further tax cuts and to make the 2001 tax cut permanent, because of the effects that such actions would have on long-term deficits. CED warns that if no action is taken, projected long-term deficits will reach dangerous levels and reduce national income and standards of living for future generations. CED calls for a combination of spending restraint, Social Security and Medicare reforms, and tax increases to meet the very serious long-term fiscal challenges the nation faces. http://www.cbpp.org/3-12-03bud.htm |
