Rep. Paul Ryan (R-WI) and Sen. Patty Murray (D-WA), chairs of budget committees in both chambers of Congress, reached an agreement last night that will partially roll back the bipartisan spending cuts mandated by the bipartisan Budget Control Act of 2011.
Jonathan Bydlak, president of the Coalition to Reduce Spending, warns that the looming budget promise is “disastrous” for fiscal conservatives because reversal of some of these reasonable spending cuts and does nothing to address entitlement programs — the real drivers of federal budget deficits.
“This deal would be a disastrous lose-lose compromise that kicks the can down the road while refusing to address the core of our national fiscal crisis,” wrote Bydlak in an email blast before the agreement was formally announced.
“At this point, sources have reported that the deal will likely replace less than half of the sequester cuts for 2014 and 2015, and not touch major entitlements and the tax code,” he continued. “[W]e’re hearing rumors that the disastrous deal could…include spending around $980 billion to $1 trillion, along with raising revenues through increased federal employee benefits contributions and air ticket taxes, among other things.”