Stephanie Young, 202-225-3130
WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) discussed the House Republican budget on CNBC's "Squawk Box" this morning. Below are excerpts and a link to the video.
Click here to watch the video.
“Well obviously [reaching a budget agreement] will take compromise. We’ve had a very difficult time getting to that. The Ryan budget frankly is a rehash of last year's budget and the budget before that. I think… in many respects, it’s an ideologically-driven pipe dream masquerading as policy. There are huge holes in it: [it] seeks to repeal the Affordable Care Act, everybody knows that’s not going to happen, doesn't offer an alternative to it. It leaves about a $5 to $7 trillion hole in revenues to try to balance the budget, which Mr. Ryan says we’re going fix by some method of reducing preference items - tax expenditures if you will - but doesn't say which ones or how. To that extent it's much like the campaign that Romney-Ryan participated in, saying they were going to get to a place but didn't say how they were going to get there.”
“Every bipartisan group that has met …that really grappled with how you get from where we are to where we need to be, and that is a fiscally sustainable path for this country, says it has to be a balanced package of revenues and entitlement restraints and cuts in spending. I think that's accurate. As you know, I have said that all along. We need to follow that formula, and the Ryan budget does not follow that formula.”
“Yes, we agree there needs to be reduction in spending, but the balance to that is there needs to be increases in revenues. We did a little bit of that, not enough. And certainly when the Ryan plan says we need to do more, we agree with that. But there is no plan in the Ryan plan. There is no specificity.”