Democrats will gladly pay later for a bailout today (Rep. Jerry Lewis)


This budgeting slight-of-hand is designed to fool the American people into believing that the Democrat majority is for once taking concerns about the financial health of our nation seriously. The Democrats will gladly pay later for a bailout today, but in the end, it’s the American taxpayer who will foot the bill with interest.

The Congressional Budget Office (CBO) indicates this bailout bill saves $1.4 billion over ten years, but this estimate is based on unlikely assumptions that any reductions in spending will be upheld in the future. The “offsets” in the legislation are produced by almost $10 billion in tax increases and $13.4 billion in reductions in two programs that are popular with Democrat leaders – the food stamp program and renewable energy projects. Because of this, reductions to these programs are unlikely to ever materialize, putting taxpayers on the hook for billions to pay for it. In fact, some Democrat leaders have already pledged to further support these programs, and these “cuts” could be restored as soon as November in a “lame duck” session.

This bill is a cynical, last-ditch effort by Washington Democrats to turn the heads of the American public away from three years of lackluster leadership by plying them with yet more bailouts. The American literally cannot afford this blatant, spendthrift political attempt by Democrats to posture themselves as a ‘do-something’ Congress just two months before the election.