Democratic Senators Kent Conrad (D-ND) and Max Baucus (D-MONT.), Representatives John Spratt (D-SC) and George Miller (D-CA) held a press conference today talking about the Democratic Budget. Sharon Patterson-Stallings, a recipient of the Low-Income Home Energy Assistance Program (LIHEAP) and Carmen Berkley, a recent graduate from Pittsburgh University and Vice-President of the United States Student Association also joined the Senators and the Representatives to show their support to the Budget. This week, the Senate and the House will be debating the Democrats’ plan to cut taxes for the middle class, create jobs at home and strengthen the economy.

The plan is concentrated on education tax cuts, energy tax cuts, Alternative Minimum Tax relief and infrastructure. The objective is to restore fiscal responsible balance by 2012/2013.

This budget promises to secure both complex domestic society and economic leadership, “where Bush has failed” said Chairman Miller. It also promises to help homeowners, by property tax deduction, not only itemizing it, helps soldiers get houses, helps families with children and helps College graduates with their loans.

Senator Max Baucus (D-MT) argues that the Bush Administration’s plan for having the economy achieve surplus by 2012 is unrealistic during today’s Senate Committee on Finance hearing. The hearing questioned President Bush’s budget proposal for the fiscal year 2009. (0:59)

 

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In this morning’s Senate Committee on Finance hearing chaired by Senator Max Baucus (D-MT), Secretary of the Treasury Henry Paulson was questioned about President Bush’s fiscal year 2009 budget proposal. The Committee’s questions were concerned primarily with Paulson and Bush’s stimulus proposal and their plans for avoiding economic recession in both the immediate and long term future.

Baucus emphasized that the President’s hope for a projected surplus by 2012 was “unrealistic.” The Senator went on to caution that the budget’s calls for Medicare and Medicaid spending cuts would be “devastating” to many dependent on the programs, including seniors, people with disabilities, and children. Baucus spoke out against the budget plans to further cut taxes.

Secretary Paulson’s defense was that he believed our economy could not handle anything that would further increase taxes. He reminded the Committee that the Bush Administration was succeeding with programs such as the HOPE NOW alliance. Paulson added he had “great confidence” in the ability of our market to recover from this difficult time.

Paulson and the Bush Administration want to see a plan implemented that is “robust, temporary, and broad-based.” While arguing philosophically about the best way to move our economy in the right direction, all present at the hearing were in agreement that what our government is doing now to help America is not working efficiently enough.