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June 19, 2024

Republicans Want More Budget Cuts, Hope to Save $6.2 Trillion

Anyone who follows the actions of Congress knows that Democrats are liberal with their spending as they try to help those in need in order to make sure that everyone in the nation is taken care of. In addition, those who follow the United States government also know that Republicans are highly conservative with their spending and want to do what is best for the nation as a whole and not look out for every last individual in the state.

So, it should come as no surprise that the Republicans in the House of Representatives are preparing to propose a $6.2 trillion budget cut over the next ten years. The plan would completely change the size of the government.

If successful, the plan would highly conflict with President Barack Obama’s current hopes for a 2012 budget.

The government is already becoming notorious for struggling to agree on financial matters. Everyone is well aware that right now the government is working to make sure a shutdown does not occur as Republicans and Democrats cannot agree on a budget for the rest of the 2011 fiscal year.

The two sides have agreed that there needs to be a total of $33 billion in cuts, but are fighting tooth and nail about where the cuts are to come from.

The plan House Republicans are set to propose would change the way that Medicare and Medicaid operate. The rate of spending would roll back significantly as the hope would be to eliminate $4.4 trillion from the federal deficit.

The Republican behind the plan is Paul Ryan of Wisconsin. He is also the House Budget Committee Chairman. He titled his set of budget cuts, “The Path to Prosperity.”

The plan contains cuts to scientific research, medical research, social programs, and education. It also would decrease taxes for big corporations and wealthy Americans.

Democrats are likely to disagree with the Republicans on most aspects. Democrats are expected to propose an increase to the strictness of tax policy on oil and gas companies and wealthier Americans.

The overall goal of both parties is to cut back the national debt, which is always growing. Currently, the national debt is closing in on $14.3 trillion.

The two parties are going to battle on the matter for quite some time to come. However, with the House of Representatives being led by Republicans and the Senate being led by Democrats, neither side is likely to get the result that they are hoping for.

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