A Democrat-sponsored bill before the House of Representatives represents the most sweeping effort at deficit reduction in over a decade.
Said House Majority Leader Steny Hoyer:
It is the largest deficit reduction measure…since Clinton’s budget in 1993, which ushered in the great economy of the 1990s.
This historic move to lower the US deficit reduces it by $138 billion in just a single decade and is projected to save the country an unprecedented $1.2 TRILLION over the next 20 years according to Congressional Budget Office estimates released this week.
As usual, this impressive legislation to reduce our national deficit is being condemned across the board by Republicans.
Rep. Phil Gingrey (R-GA) said:
“It costs too much.”
House Minority Leader John Boehner (R-Tanfast) strangely suggested on Thursday that Americans should demand that Congress NOT lower the national deficit:
“It’s not too late for the American people to continue to speak up. They need to yell a little louder, and we can stop this.”
Senate Majority Leader Mitch McConnell (R-KY) issued a direct threat to Democrats over their attempt to reduce the country’s skyrocketing deficit:
“Every election this fall will be a referendum on this bill”
House Minority Whip Eric Cantor went a step farther:
“Make no mistake this vote that…this…is a betrayal of the American people…As the leader said we’re going to do everything we can to make sure that this bill does not pass.”
Sources note that this historic deficit-reduction package has a side benefit of ensuring 95% of Americans have health insurance.
I’m just sayin’…
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