The Peoples Budget

[peoli]

Here is a link to the budget proposed by Raul Grijalva and colleagues.

http://www.standwithraul.com/wp-content/uploads/2011/04/The-CPC-FY2012-Budget.pdf

[AlabamaLibrul]

1. Summary & commentary from the likes of The Economist and Paul Krugman here

http://cpc.grijalva.house.gov/index.cfm?sectionid=70

The CPC proposal:

• Eliminates the deficits and creates a surplus by 2021
• Puts America back to work with a “Make it in America” jobs program
• Protects the social safety net
• Ends the wars in Afghanistan and Iraq
• Is FAIR (Fixing America’s Inequality Responsibly)

What the proposal accomplishes:

• Primary budget balance by 2014.
• Budget surplus by 2021.
• Reduces public debt as a share of GDP to 64.1% by 2021, down 16.5 percentage points from
a baseline fully adjusted for both the doc fix and the AMT patch.
• Reduces deficits by $5.6 trillion over 2012-21, relative to this adjusted baseline.
• Outlays equal to 22.2% of GDP and revenue equal 22.3% of GDP by 2021.

[peoli]

2. the Thom Hartman video

http://www.youtube.com/watch?v=ZlzyWs1FqFY