CBPP’s Greenstein on Boehner plan: “Could produce the greatest increase in poverty & hardship of any law in modern U.S. history”

Robert Greenstein, President of the Center on Budget and Policy Priorities, released a statement last night on just how devastating Speaker John Boehner’s proposed deficit-reduction plan would be for the future of the country.

In particular, Greenstein characterizes the plan’s attack on programs for low- and moderate-income families and retirees as “class warfare.”

The entire statement is well worth reading, but here are the key points worth noting:

The Boehner plan would force policymakers to choose among cutting the incomes and health benefits of ordinary retirees, repealing the guts of health reform and leaving an estimated 34 million more Americans uninsured, and savaging the safety net for the poor.

It would do so even as it shielded all tax breaks, including the many lucrative tax breaks for the wealthiest and most powerful individuals and corporations.

One Comment

  1. Nonanonymous

    July 26, 2011 at 10:25 am

    An inconvenient truth for Mr. Greenstein is that deferring action on cutting the deficit and balancing the US federal budget only increases the impact of a US default on debt obligations further down the road.

    You can’t fix a debt problem with more debt. Perhaps Mr. Greenstein envisions he will no longer be a recipient of government transfer payments by the time default occurs, so it doesn’t matter to him and he doesn’t care. Just how does he expect the US to meet it’s obligations to the welfare state over the next 50 years. You have to cut somewhere, and if it means putting 500,000 federal employees out of work, so be it. Probably cheaper to pay them unemployment benefits than full time salaries with benefits, anyway.

    Of course, put another way, go ahead and borrow to infinity, and when default occurs, let the chips fall where they may. Our society, as a people, have two choices, individual freedom or totalitarian rule. Individual freedom means breaking up the TBTF banks and balancing the budget. Borrowing to infinity leads to hyperinflation or global capitulation to the USD, and totalitarianism. Without redistributing the wealth of the top one tenth of one percent of the wealthy, and balancing the budget, we risk severe social unrest, similar to what Europe and the Middle East are currently experiencing.