“To build real, lasting economic security for the middle class, the President and Democrats in Congress have a plan to grow our economy from the middle out, not the top down, and create more opportunities for every hardworking American to get ahead,” said the White House in a statement. “Unfortunately, Republicans in Congress do not have a plan that works for the middle class and the House Republican Budget is the same old top-down approach.
“Because of a stubborn unwillingness to cut the deficit in a balanced way by closing tax loopholes for the wealthy and well connected, the House Republican Budget would slow the economy, stack the deck against the middle class, and threaten the guaranteed benefits seniors have paid for and earned,” the statement continued.
Ryan, the House Budget Committee chairman, unveiled his latest fiscal blueprint on Tuesday. The plan would cut spending by $5.1 trillion over the next decade, achieving balance by 2014. Ryan's proposal does not raise taxes, would repeal Obama's health care reform law, institute changes to Medicare benefits, and bring about sharp cuts to domestic programs.
The budget stands no chance of becoming law, but the White House was quick to reject the proposal. Democrats made Ryan's budget proposals a centerpiece of their attacks during the 2012 campaign -- when Ryan was the GOP vice presidential nominee -- and are likely to do so again ahead of November's midterms.
President Obama has said helping the middle class will be a focus of his second-term economic agenda. The White House said Ryan's budget would “raise taxes on middle class families with children by an average of at least $2,000 in order to cut taxes for households with incomes over $1 million.”
The White House also warned of deep cuts to infrastructure, medical research and education and said the the Republican plan would “end Medicare as we know it, turning it into a voucher program and risking a death spiral in traditional Medicare.”
Obama unveiled his own budget proposal in March, a $3.9 trillion plan that provided new spending for domestic programs, the administration claims would boost job growth.
“The House Republican Budget stands in stark contrast to the President’s Budget, which would accelerate economic growth and expand opportunity for all hardworking Americans, while continuing to cut the deficit in a balanced way,” said the White House on Tuesday.
“Budgets are about choices and values,” the statement added. “House Republicans have chosen to protect tax breaks for the wealthiest rather than create opportunities for middle class families to get ahead.”