Support the Progressive Caucus Alternative Budget

 

Ø      The Peace and Security Budget has a non-defense, domestic discretionary spending number of just over $483 billion for FY08.  This is roughly $81 billion over President Bush’s FY08 Budget submitted to Congress last month. Leading social justice and economic fairness groups like the Coalition on Human Needs and the Emergency Campaign for America’s Priorities have been advocating for at least $450 billion.

 

Ø      The Peace and Security Budget balances by FY 2010, two years ahead of the budget approved by the House Budget Committee and backed by the House Democratic Leadership. The President’s Budget comes close in FY 2012, but doesn’t reach surplus in the next ten years.

 

Ø      The Peace and Security Budget spends $395 billion on defense, which is $86.4 billion under both the President and the FY08 Budget Resolution as reported from the House Budget Committee, while not compromising our national security.  Our Budget still spends more on the military than China, Russia, UK, France, Japan, Germany, and Saudi Arabia combined.

 

Ø      Provides for fully funded withdrawal of troops from Iraq in six months.

 

Ø      Cuts at least $60 billion/year from D0D on largely obsolete Cold War weapons systems plus tens of billions more in waste, fraud, and abuse as identified by GAO.

 

Ø      Repeals Bush tax cuts for the top 1% of taxpayers.

 

Ø      Eliminates corporate tax loopholes.

 

Ø      Shifts spending and increases other non-military spending to enhance homeland security and fight the root causes of terrorism.

 

Ø      Funds research, development, and commercialization of clean, renewable energy.

 

Ø      Fully funds Title one of NCLB and lives up to federal government commitment for IDEA.

 

Ø      Fully funds SCHIP program to ensure that every American child eligible is covered for basic health insurance.

 

Ø      Guarantees Health Care for all Veterans.

 

Ø      Increases funding for Community Development Block Grants, Section 8 housing, and food stamps.

 

 

Benchmarks and Top Twelve Highlights for FY08-17 Progressive Caucus Alternative Budget
(working from CBO baseline and 10-year budget timeline)

 

BENCHMARKS:

(1)    Provides $483 billion for domestic, non-military discretionary spending; and

(2)    Provides $395 billion as sufficient defense spending level beneath President Bush’s request or cut of $86 billion below the Bush request which is an 11% increase over last year

 

TOP TWELVE HIGHLIGHTS:

  • Iraq – projects complete U.S. military  redeployment out of Iraq during 2007– savings of at least $187 billion in the next two years;
  • Target waste, fraud, and abuse, starting with Pentagon savings – projects enactment of the Common Sense Budget Act, which would save at least $60 billion/year on largely obsolete Cold War weapons systems plus billions more is waste, fraud, and abuse in DOD spending identified by the nonpartisan Government Accounting Office (GAO)- savings of at least $600 billion over ten years;
  • Repeal of Bush tax cuts for the top 1% of taxpayers --  due to expire in 2010 regardless and beyond – savings of at least $348 billion;
  • Crackdown on corporate welfare – projects elimination of various corporate tax loopholes such as deductibility of advertising for imaging purposes and special tax breaks for oil and gas industry and other extraction industries ;
  • SMART Security Alternative to Preemption Doctrine – shifts some spending and increases other non-military spending to fight root causes of terrorism – 21st century diplomacy, meeting basic human needs (e.g. HIV/AIDS/TB, universal basic education for all);
  • Global Warming and Energy Independence– funding for immediate, cost-effective steps to redress global warming and the rapid acceleration of renewable energy development;
  • Education for All – fully fund NCLB and IDEA and improve Teacher Corps and job training;
  • Medicare for All – affordable, accessible, quality health care for all Americans
  • Guaranteed Veterans’ Health Care – ensure whatever federal funding is needed to provide health care (including mental health care) for All America’s veterans (including but not limited to veterans of the Iraq and Afghanistan military operations;
  • Fair Shake for Middle-Class – increase funding to protect fundamental worker rights, enforce fair credit and lending practices, and promote livable wages and safe workplaces;
  • Renew the Social Contract and 21st Century Safety Net – substantially increase funding for decent affordable housing, anti-hunger programs, and more quality child care; and
  • Rebuild America’s Communities – substantially increase funding for Community Development Block Grants, community policing, and priority clean-up of leaking underground storage tanks that threaten the drinking water of nearly half of all Americans – a down payment on the implementation of other urgently needed environmental justice programs.

 

 

Text Box: $$ Billions