Mike Honda: “rise in strong opposition to H.R. 4241, legislation that will require approximately $57 billion in federal spending…”

“rise in strong opposition to H.R. 4241, legislation that will require approximately $57 billion in federal spending reductions. Deceptively titled the Deficit Reduction Act, the bill resorts to trickery--a sleight of hand in which fiscal responsibility is promised, but never delivered. H.R. 4241 could actually increase the budget deficit by $35 billion, while instituting draconian cuts to essential federal programs, such as Medicaid and student loan. Proponents of the bill suggest that such cuts are necessary to offset the recovery and reconstruction costs of Hurricanes Katrina and Rita. This assertion is curious at best. Since 2003, Congress has approved three colossal supplemental spending bills for the war and reconstruction effort in Iraq without providing any offsets as proposed by Democrats. Why are Republicans suddenly so interested in offsetting the reconstruction of Biloxi, but not the reconstruction of Baghdad? The American people should not be misled. These long-planned spending cuts have little to do with Biloxi or Baghdad. They, instead, are a necessary prelude to another Republican effort to shepherd through Congress tax cuts that disproportionately benefit the wealthiest Americans. In fact, the so-called Deficit Reduction Act is a part of a much broader budget resolution that calls for a total of $106 billion in additional tax cuts.…”