Frank Pallone: “last week the Republicans passed their budget plan which actually increases the deficit starting next year. Projections…”

“last week the Republicans passed their budget plan which actually increases the deficit starting next year. Projections show that the 1996 deficit will be approximately $130 billion, but under the GOP plan it will increase to $153 billion in 1997. The GOP deficit is also higher in 1998 than this year's deficit. I ask why. The reason is because the GOP are intent on their large tax breaks for the wealthy, part of which are paid for through excessive Medicare cuts. In 1992 the deficit was $290 billion and in 1993 it was $255 billion. Under Democratic leadership the deficit has actually dropped 4 years in a row to the projected $130 billion of this year. What is the reason for the Republican deficit increase? Misplaced priorities, tax breaks for their wealthy friends, and a slush fund for future unnecessary tax breaks. While the Republicans claim to be deficit hawks and the saviors of Medicare, the facts indicate that they are intent on pushing this country further into debt and making large and unnecessary cuts in Medicare. This Republican deficit-increasing budget also makes extreme cuts of $72 billion over 6 years to the Medicaid Program and allows States to cut an additional $178 billion, for a grand total of $250 billion in Medicaid cuts. We are talking about major cuts in Medicaid as well as Medicare.”