Congressman Lowenthal Labels Republican Budget Proposal A "Harsh Austerity Plan"

Congressman Alan Lowenthal spoke on the floor of the House of Representatives today, making the following statement regarding the House budget plan recently proposed by Republican Congressman Paul Ryan.

"Congressman Ryan's current budget proposal is a harsh austerity plan that seeks to reduce the deficit on the backs of our nation's most vulnerable, while benefiting special interests and the ultra-wealthy.

Under this plan, more than 30 million Americans now covered under the Affordable Care Act, including more than 70,000 residents of my district, would be at risk of losing their coverage. Medicare, as we know it, would cease to exist for more than 5 million future seniors and just over 3.5 million current seniors would lose Medicare preventative care coverage.

This plan also jeopardizes our economic recovery.

The Economic Policy Institute estimates that this plan will cost 2 million jobs in the next year alone, reduce the GDP by 1.7 percent and literally stall the economy through 2016.

This is neither the balanced or rational approach we need. I want to work with all my colleagues in Congress to pass a budget that creates jobs, grows the economy, strengthens the middle class, and responsibly reduces the deficit.

Sadly, this is not that plan."