America
US Congress passes budget plan targeting deficit
Washington, May 6
The US Congress has
approved a Republican budget plan that includes big cuts to public
spending intended to eliminate budget deficits by 2024, and a provision
to dismantle US President Barack Obama's healthcare plan.
The
Senate approved the non-binding measure on Tuesday in a 51-48 vote after
it was passed in the House of Representatives last week, the first time
the Congress has passed a budget outline since 2009.
The plan
aims to pave the way to a balanced budget within a decade by reducing
funding for national agencies and social security programmes such as
food stamps, directed at families and individuals with low income and
limited resources, and by ending tax breaks for low income earners.
The plan reduces spending by $5.3 trillion over a 10-year period.
The
outline does not need presidential approval to be enacted, as it serves
only to guide Congressional consideration of government agency spending
bills.
It will also serve as a Republican manifesto for the 2016 presidential elections.
The
resolution grants a short-term funding increase of $38 billion or 7
percent to the Pentagon, through funds earmarked for war operations.
Republicans
and some economists claim that balancing the budget is important for
the long term health of the economy, and that it is better to tackle the
financial burdens of social security programmes sooner than later.
This, they say, will also reduce the debt burden passed on to future generations.
Democrats,
who voted against the budget outline in both houses of Congress,
believe that Republicans would find it difficult to implement the cuts.