Photo: Progressive Caucus Members announcing their alternative
The People’s Budget:
Quick Summary of a Good Plan
By Kay Kirkpatrick
Beaver County Blue
Among the budgets proposed in Congress recently, one eliminates the deficit in 10 years, puts Americans back to work, and restores our economic competitiveness.
Instead, it preserves Social Security, Medicare, Medicaid, and unemployment benefits; expands jobs and job training programs; shifts the tax burden off the backs of the people; eliminates tax credits for the oil and gas industries and subsidies for new nuclear power plants; invests in infrastructure and brings our troops home.
This version of our financial future, proposed by the Congressional Progressive Caucus (CPC), is not only in keeping with priorities of the majority of the American people, it is viable, reasonable and sustainable.
The CPC plan ends the budget deficit two decades earlier than the Ryan plan. Specifically, the budget offers:
· $5.6 trillion in deficit reduction
· $869 billion in spending cuts
· $856 billion net interest savings
· $3.9 trillion revenue increase
· $1.7 trillion in public investment, and
· $30.7 billion in a budget surplus in 2021.