epi.org — The values and policies embodied by the Budget for All, the budget of the Congressional Progressive Caucus for fiscal year 2013, offer a stark contrast with those of the budget put forth by House Budget Committee Chairman Paul Ryan. First, the Budget for All protects Medicare, Medicaid, the Affordable Care Act, and other elements of the social safety net. Second, it boosts public investments in education, infrastructure, and research and development. But the Budget for All and the Ryan budget are perhaps most diametrically opposed in their approach to economic stewardship over the weak recovery. The Budget for All would finance a direct jobs program, infrastructure investments, targeted tax credits, and increased non-defense discretionary spending to ameliorate the ongoing crisis in the U.S. labor market. Conversely, the Ryan budget would accelerate the looming economic drag from contractionary fiscal policy with deep, aggressive spending cuts—failing the “first, do no harm” principle and sharply impeding job creation.
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