Budgetary Pushback

Democrats have finally done what they should have done a year ago, push back with a detailed budget plan of their own that counters the frame-shifting noise of Paul Ryan and friends.

As the focus on Capitol Hill shifts to America's long-run fiscal woes, Congressional progressives are one step ahead of the White House and Democratic leaders in offering a counter-proposal to the House GOP approach.

The broad sketch proposes to end the Bush-era tax cuts on high income earners, enact a surtax on millionaires and billionaires, increase the the estate tax and eliminate corporate tax loopholes and subsidies for oil and coal companies. It also aims to create a public health insurance option, end the wars in Iraq and Afghanistan, and invest $1.45 trillion in "job creation," energy, housing and education programs.

The revenue-heavy proposal (PDF) stands in stark contrast to the spending cuts-oriented plan put forth by House Budget Committee Chairman Paul Ryan (R-WI) -- and championed by GOP leaders -- that slashes $6 trillion in federal programs (including Medicare and Medicaid) while significantly reducing taxes for wealthy Americans and corporations.

"This budget is transparent, straightforward and realistic about where we are in America right now," Rep. Raul Grijalva (D-AZ), co-chair of the progressive caucus, told Raw Story. "The Ryan plan, for all the credit it gets for thinking big, doesn’t reflect the reality of the American economy. It destroys the successful programs that made this country strong, especially Medicare and education, and doesn't even try to explain how it creates jobs. It reflects a faith that making government disappear will somehow create prosperity."

The plan is a nonstarter in the GOP-led House and would have a hard time winning over more than a handful of Democrats in the Senate. But Grijalva and his progressive caucus co-chair Rep. Keith Ellison (D-MN) wrote a letter urging Rep. Chris Van Hollen (D-MD), the top Democrat on the budget committee, to consider their ideas in the Democratic counter-offer this week.

I recall Jon Cohn saying yesterday that Democrats needed a liberal counter to the Ryan Unicorn Plan.  Well guys, you got it.  It's got the whole kitchen sink in there:  the public option, killing the Bush tax cuts on the upper class and replacing them with Rep. Jan Schakowski's 45-47% tax rate on the wealthiest Americans, taxing capital gains and foreign income, getting rid of the limit on Social Security taxable income, putting in the Medicare doc fix, and increases education and infrastructure spending.

Oh, and they cut $5.7 trillion from the deficit and balance the budget by 2021.  Rep. Grivalja has a pretty good blueprint here and is putting it up to give the President ammunition for Wednesday.

Oh yes, it has about the same chance of passage as the Ryan plan, if not less.  But it's on the table.  You want to see if anyone in the Village praises it as "serious" like the Ryan plan, or even mentions it at all?