Democrats Respond: “'Cut, Cap, and Balance Act' is a More Extreme Version of Republican Budget Resolution"

. Google Images: Rep. Chris Van Hollen, D-Md., the ranking Democrat on the House Budget Committee, counters Republican budget claims.

Earlier today, I posted my analysis of the proposed "Cut, Cap, and Balance" bill that Republicans are trying to get passed. Now, Democrats on the House Budget Committee have released their own analysis of the bill, and they do not mince words.

The document, entitled "Cut, Cap, and Balance Act" is a More Extreme Version of Republican Budget Plan," immediately goes on the offensive, charging Republicans with supporting well-to-do billionaires and corporate jet owners while all but eliminating any opportunity for the middle class to get a leg up. They also argue that, on procedural grounds, the bill makes it much more difficult for the debt ceiling to be raised by August 2nd because Republicans are requiring a balanced budget amendment to the Constitution first pass both the House and the Senate. 

A sampling from the document:

The Republicans’ newly introduced “Cut, Cap, and Balance Act of 2011” (H.R. 2560) is yet another attempt to enact the policies they approved with their budget resolution this spring – to end the Medicare guarantee while continuing tax breaks for special interests and the wealthy.  It requires immediate and steep spending cuts starting this October that will put more Americans out of work while the country is still recovering from the worst recession since the Great Depression.  It caps total spending – including mandatory spending programs, such as unemployment benefits, that are designed to  grow when the economy is bad – for fiscal years 2013-2021 at lower percentages of the economy (Gross Domestic Product, or GDP).  More immediately, it requires passage of a specific type of a so-called “balanced budget” constitutional amendment by both the House and the Senate before the debt limit can be increased.  This new hurdle makes it even harder for Congress to increase the debt limit by August 2, which it must do to avoid fiscal calamity and higher interest costs for consumers and the government alike.

The full text of the document can be found here.