Congressional Progressive Caucus Releases Alternative Budget Proposal

Progressives Release Only Budget to Cut Defense Spending & Cut Poverty in Half in A Decade

Budget Helps Rescue Faltering Economy and Rebuild America’s Infrastructure

(Washington, DC) – Congresswoman Barbara Lee (CA-9), Co-chair of the Progressive Caucus (CPC), released the following statement touting the CPC budget alternative that balances moral and fiscal priorities:
“The CPC’s budget is the only proposal that addresses poverty head on and is also the only alternative to cut even one dime from Pentagon spending. Progressives are very concerned that the Bush administration’s bloated defense budget request is the highest since WWII and propose limiting defense spending to $468.3 billion, which is $68.7 billion under the President’s request and does not compromise national security.
“Because Americans have been hit hard by the Iraq recession, our alternative assumes the redeployment of troops and contractors from Iraq between now and FY 2009, saving tax-payers at least $135 billion over the next 18 months.
“Under the Bush administration, a disproportionate amount of funding has gone to the Pentagon and provided tax cuts for the wealthy, while urgent domestic priorities have gone under-funded, poverty has increased, and the gap between the super wealthy and everybody else grew at an alarming rate. To reverse these trends, CPC’s plan includes a second economic stimulus package, which provides funding increases for unemployment insurance, food stamps, housing assistance and Federal Medical Assistance Percentage payments to states.
“The budget also makes an investment of $73.05 billion in FY 2009, which increases to $129.3 billion in FY 2018, to fund a comprehensive strategy to cut poverty in half in a decade and provide immediate and long-term help for Hurricane Katrina victims.
“It is just common sense to redistribute funding, both domestic and international, to help our nation to become more secure and I urge my colleagues to vote for this sensible and mainstream budget plan that balances in FY 2012.
“Progressives are on the right side of the issues that affect the American people and will garner significant support to be in a position to shift economic priorities this Congressional session.”