Is there too much power in one Republican’s hands?

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>>> paul ryan will give the response to the state of the union tonight, also something worth buzzing over, but he scored a bigger coupe when house republicans passed a resolution to give him the ability to single handedly cut ought nonsecurity spending to 2008 levels. at the won’t pass the democratic senate, but it’s curious that republicans voted in lockstep to give all the power to one lawmaker from the state of wisconsin. ryan is a fiscal hawk, or at least he claims that when he’s in and out cutting taxes. he has proposed privatizing social security and gutting medicare, but here’s the thing. his right-wing ideas seem moderate compared to most of the republican caucus. he’s proposed cutting $60 to $80 billion in the budget, but the republican study committee has its own proposal. it calls for at least $100 billion of cuts immediately and on the way to $2.5 trillion in federal budget cuts overial. let’s talk about it a bit more with congresswoman rosa delora of connecticut. first, i want to ask you about a couple lists here. i have a list of the cuts. they are looking to cut pbs, national document for the amounts, am track, and the ones i agree with, the federal travel budget, not all of it. the prohibition on competent tiff sourcing of government services, which if they actually did stop, and the usda sugar program, which is a subsidy for sugar. do some of those make sense? and, two, what do you think about the pbs and all the other ones they have always wanted to target? >> let’s put this into a context. they said what they wanted to do was to create jobs. they wanted to protect the middle class and deal with a deficit reductions. the first opportunity was how do we repeal and repeat health care, which is a job creator, which would have a devastating effect and would have $230 billion to the deficit. and they have — there’s some pieces here that they have laid out, but in fact there are really no real specifics to what they’re going to do. others would have to judge the impact on ordinary people. the fact of the matter is if you take a look at cutting for state and local government, what does that mean in terms of services? would that mean an increase in property taxes to families you know, at the moment, no rhyme or reason to what they are doing to try and meet the first need that the public has scud us to deal with, create jobs. where are they? where are their proposals to create jobs and put our economy back on track again? they’re not there. with this, as you pointed out, one individual to make cuts anywhere? i don’t think the americans were looking for that kind of effort. they leer look for democrats, republicans to come together and compromise on what that i can sense for the long-term economic growth of this country, to create jobs, and yes, to cut deficits. >> congresswoman, i don’t see how the massive spending cuts will do it. make they could make an argument for a long-run solution, but short run they have to admit that doesn’t create a single job, but you know, you mentioned specifics. you’re right the leadership is very brought. ryan is a little more specific, but not very. but when you get to the study group and those are the more right-wing guys, they are specific. for example, they want to prohibit taxpayer-funded union activities by federal employees. they’re going after the panel on climate change to help the oil companies. they’re going after administrative costs, which means you can’t do health care if they cut that. the general assistance to the district of columbia. community development fund. >> these are all of their ideological — >> it’s like a dream hit list. >> they will — it would be interesting to me to see what they would think about in the next year or the two years’ extension on the tax cuts for the wealthiest 1% of the people in this nation, and that is about $100,000 to these folks, whether they’re willing to cut back that, or where they’re going to go to deal with ordinary people. i think this is pretty disengenous about what they want they were going to do when they came to washington. a total flip about how we’re going to get this economic right, how do we create jobs? how do we protect the middle class? and how do we bring down the deficit? >> i didn’t see a single one that hits the top bracket. every ounce of pain goes to the middle class and the poor. >> you got it. >> congresswoman, thank you for joining

About William Brighenti

William Brighenti is a Certified Public Accountant, Certified QuickBooks ProAdvisor, and Certified Business Valuation Analyst. Bill began his career in public accounting in 1979. Since then he has worked at various public accounting firms throughout Connecticut. Bill received a Master of Science in Professional Accounting degree from the University of Hartford, after attending the University of Connecticut and Central Connecticut State University for his Bachelor of Arts and Master of Arts degrees. He subsequently attended Purdue University for doctoral studies in Accounting and Quantitative Methods in Business. Bill has instructed graduate and undergraduate courses in Accounting, Auditing, and other subjects at the University of Hartford, Central Connecticut State University, Hartford State Technical College, and Purdue University. He also taught GMAT and CPA Exam Review Classes at the Stanley H. Kaplan Educational Center and at Person-Wolinsky, and is certified to teach trade-related subjects at Connecticut Vocational Technical Schools. His articles on tax and accounting have been published in several professional journals throughout the country as well as on several accounting websites. William was born and raised in New Britain, Connecticut, and served on the City's Board of Finance and Taxation as well as its City Plan Commission. In addition to the blog, Accounting and Taxes Simplified, Bill writes a blog, "The Barefoot Accountant", for the Accounting Web, a Sift Media publication.
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