Cut, Cap, And Balance Act Of 2011
Mr. Speaker, I rise today to strongly oppose the Republican's ``Cut, Cap, and Balance Act.'' The only thing balanced about this bill is that it has the word balance in the title. The actual title should be ``Cut, Default, and End Medicare…
Mr. Speaker, I rise today to strongly oppose the Republican's ``Cut, Cap, and Balance Act.'' The only thing balanced about this bill is that it has the word balance in the title. The actual title should be ``Cut, Default, and End Medicare Act'' since it would have a devastating effect on all American families and businesses. This legislation makes significant cuts to social programs, and caps spending at unprecedented levels.
Quite simply, this is the worst piece of legislation I have seen while serving in Congress. This legislation seals tax breaks for richest Americans, while gutting Medicare for seniors and other critical programs for students, such as Pell Grants. In order to eliminate tax breaks for the richest two percent of Americans, a supermajority of Congress would be required for approval. This bill will adversely impact the Hispanic community and will substantially weaken the American economy.
The Republican plan is not the balanced approach Americans favor: spending cuts and revenue increases, but instead the Tea Party plan will lock in cuts over the next 10 years as severe as those in the Ryan budget plan that they passed in April. In fact, according to a CBS News Poll released Monday, 66 percent of Americans say an agreement to raise the amount of money the nation can borrow should include both spending cuts and tax increases. This bill would exacerbate the debt crisis by making it more difficult for the U.S. to pay its bills by August 2nd and force the passage of a constitutional amendment that would require a two-thirds approval to raise any revenue in the future.
This bill would require slashing $111 billion immediately from critical programs, in FY2012, without regard to the 9.2 percent unemployment rate. These cuts would cause the loss of roughly 700,000 jobs in the current weak economy. In fact, the Republicans' slash and burn politics have not created a single job for hardworking middle class families in over the 200 days they have controlled the House. Instead of rebuilding our economic infrastructure by investing in roads, ports, bridges, and education and job training programs to help middle class Americans, they push a radical and dangerous ideological agenda.
H.R. 2560 also continues the Republicans assault on our nation's seniors. Their plan will inevitably result in the end of the Medicare guarantee, shifting thousands of dollars of health costs onto seniors, shredding the social safety net and our promise to protect our most vulnerable. Social Security would also be affected, even though Social Security doesn't add 1 penny to the deficit.
Rather than focusing on innovation, infrastructure, education, and jobs, Republicans want to manipulate the Constitution to make it easier to cut Medicare and Social Security than to close special interest tax loopholes.
The bill destroys Social Security and Medicare as we know them. These programs are extremely important to seniors, especially to those in my district. H.R. 2560 is nothing more than an ideological piece of legislation to pursue a radical policy agenda of attacking the livelihood of our seniors, while protecting tax breaks for special interests and the wealthiest Americans. For these reasons, I strongly urge my colleagues to oppose this legislation and stand firm in support of our seniors, children, and most vulnerable.