On the recordMarch 25, 2015
I thank the gentlewoman from New York for yielding. Mr. Chair, today, we will be asked to vote on a budget resolution that should outline our priorities and our values as a nation. But this year, House Republicans have proposed what I refer to as a ``magic budget'' that goes far beyond the sleights of hand and fiscal gimmicks that folks have grown accustomed to seeing here in Washington. {time} 1315 Republicans would like us to believe that their painful spending cuts will balance the budget in just 9 years. Unfortunately, the basic immutable laws of accounting contradict this claim. The Republican budget claims to save $5.5 trillion and balance the budget in just 9 years. Allow me to explain this magic budget. The magic budget extends tax cuts for corporations and eliminates the alternative minimum tax, but it doesn't account for the $150 billion in lost revenue. This is where it gets even trickier. The Republican budget then cuts $1.1 trillion in spending without any indication of where it would come from. It then takes a sharp turn to the right and repeals ObamaCare, but it still, amazingly, uses the $1 trillion in future revenue from ObamaCare to balance the budget by 2024. Mr. Chairman, this is one magic budget. America deserves better.
