Summary and Analysis of the House Budget Committee-reported FY 2012 Budget Resolution
The question is not whether to reduce the deficit, but how. As the President's bipartisan Fiscal Commission has shown, any responsible effort requires a balanced approach that addresses both spending and revenue; the fiscal year 2012 Republican budget resolution reported by the House Budget Committee last week fails this simple test. The Republican budget increases tax breaks for millionaires while ending the Medicare guarantee for seniors and cutting support for seniors in nursing homes, disabled individuals, and low-income children who depend on Medicaid. It extends tax breaks to oil companies and special interests that ship jobs overseas, all while slashing vital investments in education, public safety, research into cures and treatments for diseases, clean energy, and critical infrastructure.