Hoyer: Middle Class is Paying Price for Bush Administration, ‘Where Much Was Spent and Little Was Paid For’
(CNSNews.com) – House Minority Whip Steny Hoyer (D-Md.) said Republicans are asking the middle class to “pay the price for the fiscal irresponsibility” of the Bush Administration, “where much was spent and little was paid for,” Tuesday, on Capitol Hill.
“Republicans are suggesting an increase of additional tax that would be perceived correctly as a 5 percent cut in pay of federal employees,” said Hoyer, when speaking on House Budget Committee Chairman Paul Ryan’s (R-Wis.) plan, of which he called “Tea Party inspired.”
“Although they don’t want to tax millionaires, they want to cut the take home pay of federal employees by decreasing by 5 percent their contributions to the federal employee retirement system and the civil servant retirement system,” he said.
“So they continue to go down a path of asking middle income and lower income people to pay the price for the fiscal irresponsibility that was pursued in the last decade under the Bush Administration where much was spent and little was paid for,” Hoyer added.
“They continue to ask middle class working people to pay that bill.”
The Democratic Whip’s comments came during his weekly pen-and-pad briefing with reporters.
As CNSNews.com previously reported, in less than four years since President Barack Obama took office, the debt of the federal government has increased by more than $5 trillion ($5,027,761,476,484.56).
Under two full terms of President George W. Bush -- 8 years -- however, the federal debt increased by $4.8 trillion ($4,899,100,310,608.44).
The $5 trillion additional debt added during President Obama’s 39 months in office is more than the federal government accumulated in the first 219 years of the Republic. The President has also presided over four straight years of trillion dollar deficits.
Chairman Ryan, meanwhile, says his budget proposal would extend the federal pay freeze through 2015. Ryan told the Federal Times that it would also allow federal workers to contribute more into their pension plans.