House Budget Committee Proposes a Balanced Budget

The U.S. House Budget Committee revealed its proposed FY 2017 budget today. The resolution proposes a budget that balances within ten years without a tax increase, saving approximately $7 trillion via spending reductions and economic growth. It proposes defense funding levels above President Obama’s funding proposal, and provides for the preservation of Medicare.

Georgia’s 6th District Rep. Tom Price is the House Budget Committee Chair, and he had this to say in a prepared statement:

We need real solutions to overcome the fiscal, economic, and national security challenges facing our nation. Surrendering to the status quo or failing to act boldly will mean Americans today and in the future will have less opportunity and less security. The Fiscal Year 2017 House Republican budget, A Balanced Budget for a Stronger America, provides a vision and specific solutions for how we can, as a nation, get our fiscal house in order, strengthen our national security, provide support for those who need assistance, and empower our citizens and our communities. It is a plan to balance the budget through commonsense reforms and greater economic growth; to create a healthier economy, more secure nation, and a more accountable Washington.

Also on the Budget Committee is 7th District Rep. Rob Woodall, who said,

America faces significant economic and fiscal challenges, and today we on the Budget Committee introduced a balanced budget that confronts those challenges head-on. Each year I’ve been in Congress, the House has introduced and passed a budget that balances in 10 years or less, and each year we’ve partnered with the American people to present a clear alternative to the Obama Administration’s policies of never-ending deficit spending and ever-growing debt. Through a combination of savings and economic growth measures, our budget prioritizes national security, empowers the American people rather than Washington, and cooperatively produces $7 trillion in deficit reduction over a 10-year window.

We have made a lot of progress to get America moving again, but there is much more that we can do together. I am committed to moving this budget and this policy roadmap forward and continuing to grapple—one-by-one—with the challenges burdening hard-working American families. Working together, we can absolutely ensure that tomorrow is better than yesterday.

More information on the budget can be found here.

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ScottNAtlantaDave BearseAndrew C. PopeBakerBenevolus Recent comment authors
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chefdavid
chefdavid

A Balanced Budget for a Stronger America…….Working together, we can absolutely ensure that tomorrow is better than yesterday……
Sounds like they want to make America Great again.

Nathan
Nathan

Without the Big Beautiful Wall rhetoric.

Benevolus
Benevolus

My impression too. It mentions “Since Obama took office” as if deficits didn’t require congressional approval. It’s somebody else’s fault!

xdog
xdog

I don’t know much about funding government but I know a budget when I see one and this effort of Price’s is no budget. It wouldn’t be a bad position paper for a goper campaign but as a blueprint for the future of the country it’s a sham. It’s filled with political shots–ISIS! Solyndra! ObamaCare!–but devoid of any detail. It talks generally about eliminating federal programs without any mention or provisions for the cost in social capital. It takes up Ryan’s trick of saying yes, we’ll reform social security but in a decade or so. Like Ryan’s effort, it’s mainly… Read more »

Baker
Baker

I would totally be on board with Bowles-Simpson but sadly I think it’s gone forever.

And I really don’t want to go wading into the swamps of the internet so can someone tell me why are some Republicans freaking out over this? Doesn’t cut enough? Extends certain unwanted programs? What’s the insane reason this time?

xdog
xdog

House gopers and Obama agreed to modest increases in federal spending last year. Now the Freedom Caucus has decided it doesn’t like that law and wants to offset that increase, threatening to hold its breath until it gets its little way. Ryan and Price and others have offered cuts to SS and medicare in an effort to burp the FCers but they don’t believe Obama will go along with any cuts. In that they’re probably right, one of the few things they’ve been right about, but why should he? Among reasonable adults, a law is a law and a deal… Read more »

Andrew C. Pope
Andrew C. Pope

I don’t get why Republicans love Tom Price so much. I’ve met with him a few times and I’ve never been all that impressed, to be honest. More of the same partisan hackery we see from the vast majority of Congressmen and Congresswomen. Sure, he came across as smarter than Paul Broun (talking about “issues” with Paul Broun felt like you were taking to a third grader), but I didn’t get the impression that we was particularly wonky or had a grasp of budgeting issues beyond his talking points. I don’t know, maybe it was just me.

Dave Bearse
Dave Bearse

Is this another budget that includes Obamacare taxes, penalties and health care savings? You know, the program that the GOP has pledged to replace whenever physician Price gets his “real solution” health care legislation to the floor?

ScottNAtlanta
ScottNAtlanta

This focus on a “balanced budget”. Its stupid. The US government is never meant to have a balanced budget. The US is a sovereign currency nation that has exclusive rights to create currency out of thin air and all its debts are owed in that currency. You can also only pay your taxes in that currency. Taxation takes money out of the economy, lending puts it into the economy. Take a look at the rates and yields on a 10yr t-bill and tell me that anyone in the markets thinks debt is a problem. What you will find is just… Read more »