Friday, April 8, 2011

The Congressional Progressive Caucus Proposes a Balanced Budget...Only Fair!

The CPC proposal:

• Eliminates the deficits and creates a surplus by 2021
• Puts America back to work with a “Make it in America” jobs program
• Protects the social safety net
• Ends the wars in Afghanistan and Iraq
• Is FAIR (Fixing America’s Inequality Responsibly)

What the proposal accomplishes:

• Primary budget balance by 2014.
• Budget surplus by 2021.
• Reduces public debt as a share of GDP to 64.4% by 2021, down 16.9 percentage points from
a baseline fully adjusted for both the doc fix and the AMT patch.
• Reduces deficits by $5.7 trillion over 2012-21
• Both outlays and revenue equal 22.3% of GDP by 2021§iontree=5,70

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