On Thursday, Republicans began to roll out their alternative to the president’s gargantuan $3.6 trillion budget. While they have yet to spell out exact figures or provide the comprehensive budget itself, the “Republican Road to Recovery” does preview their plan and goes some distance toward shooting down the Democrats’ spin that Republicans have “no ideas.”
The plan is summarized as follows:
- Limits the Federal Budget from Growing Faster than Family Budgets
Instead of spending money on wasteful programs under the guise of “stimulus” and “investments,” Republicans seek to ensure that the federal budget cannot grow faster than families’ ability to pay the bill.
- Provides Universal Access to Health Care and Secures Entitlements
Instead of accelerating the demise of our nation’s large entitlement programs, such as Medicare and Medicaid, and creating new unsustainable entitlements, Republicans seek to provide universal access to affordable health care and to address our entitlements’ trillion dollar unfunded liabilities with common sense reforms that ensure our children and grandchildren can secure future benefits.
- Lowers Taxes
Instead of raising taxes on all Americans in the midst of a recession, Republicans seek to reduce the tax burden on working families and small businesses, in order to create jobs and unlock private capital.
- Keeps Energy and Fuel Costs Low
Instead of taxing all energy users with a new national energy tax that will cost up to $3,128 per household, Republicans want energy independence with increased development of all our natural resources, including renewable energy sources such as wind and solar.
- Ends the Bailouts and Reforms the Financial System
Instead of nationalizing our financial system and heaping trillions of dollars of debt on future generations, Republicans want to protect taxpayers and provide a transparent recovery process that does not favor those that have made unsound business decisions. We will ensure that this financial crisis can never occur again.
- Keeps the Cost of Living Low
Instead of returning to double digit levels of inflation and the failed economic policies of the 1970s, Republicans support maintaining the cost of living after witnessing the booms and busts triggered by loose monetary policy.