Democrats Push For More Spending, Debt

Democrats in Congress have put together a bill that raises a little money through taxes and spends a whole lot more. According to the CBO, it spends about $134 billion more than it raises. And that's a problem for Democrats who are pretending to care about out national debt and are claiming to be budget-conscious.
http://money.cnn.com/2010/05/22/news/economy/tax_extenders_job_bill_cost/index.htm

The bill, which is likely to become a flash point in the debate over the federal debt, would raise $40 billion worth in additional revenue, according to estimates by the Congressional Budget Office and the Joint Committee on Taxation.

But that's not enough to fully offset the $174 billion in additional federal outlays that would occur as a result under the bill. CBO released its cost estimate late Friday.

The legislation would extend a host of tax breaks, give continued relief to the unemployed, delay cuts to doctors' Medicare reimbursements, provide support for job growth and fund disaster relief, among other things.

The bill, a melded version of proposal passed earlier by the House and Senate, won't be free of opposition on either side of the aisle. There is pressure to pay for more of the bill's provisions, and there is strong disagreement over some of the pay-fors that are included.

And this just goes to show that Democrats, for all their talk about PAYGO and being fiscally responsible, just want to spend our money on their projects. If we let the Democrats have their way, we'll be two steps behind Greece before too much longer.