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Why I Voted Against the Bowles-Simpson Deficit Reduction Plan
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| Contributor | Homegrown Democrat |
| Last Edited | Homegrown Democrat Dec 03, 2010 05:57pm |
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| Category | Editorial |
| Author | Jan Schakowsky |
| Media | Website - Huffington Post |
| News Date | Friday, December 3, 2010 06:55:00 PM UTC0:0 |
| Description | While I cannot support the Simpson-Bowles plan, I thank the co-chairmen for their dedication to our difficult task over the last eight months, and I agree with them that the work was constructive despite our inability to get fourteen votes.
I offered my own plan to achieve the goal outlined by the President to achieve primary budget balance by 2015 with one very different assumption. I believe that we can do it without further eroding the middle class in America.
It pays to remember that just 10 years ago we had a budget surplus and the debt was rapidly decreasing. During the Bush years, those surpluses disappeared and huge debt accumulated due to two unfunded wars, two unfunded tax cuts that mainly enriched the already wealthy, and a blind eye to the recklessness of Wall Street which caused 8 million Americans to lose their jobs and millions more to lose their savings, the value of their homes and the homes themselves. |
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