House GOP Spending Bill is “Penny Wise, Pound Foolish” on Deficit Reduction

Twelve weeks into the 112th Congress, the Republican Leadership continues to claim that their top priority is deficit reduction. The reality is, it’s anything but! Under the guise of cutting spending, the House GOP has gone after programs that actually reduce the deficit. For example, they passed a $600 million cut to the Internal Revenue Service, which brings in $10 for every $1 it spends by making people pay what they owe. Washington Post writer Ezra Klein points out, “Converting dollar bills into $10 bills is an excellent way to pay off your credit card. Except, it seems, if you’re a House Republican.”

In another short-sighted decision, House Republicans have targeted early childhood education. In the name of deficit reduction, Republicans want to kick over 200,000 children off Head Start. Perhaps by that logic, we could save even more money by simply shutting down our schools and universities.

As House Appropriations Democrats have shown us, in the GOP’s rush to placate their extreme conservative base, they are pushing drastic cuts to the very programs we need to be investing in to ensure that we can out innovate, out educate, and grow our economy – like Pell Grants and assistance to low income students, cancer and other medical research, and job training for the unemployed. Republicans continue to defend tax breaks for billionaires, while going after our nation’s most vulnerable citizens.

Short-term spending cuts do not always equal deficit reduction. The House GOP needs to stop pursuing their “penny wise, pound foolish” approach and focus on reducing the deficit in a manner that’s responsible and creates jobs. Democrats have our hand out waiting to work with them to get America working again for everyone.