In non-Luv Guv news, I just returned from the Republican press conference on the budget that House Democrats are proposing. The always-impressive Paul Ryan (R.,Wisc.), ranking member of the Budget Committee headed it up, with a few other members making remarks (including Republican Study Committee Chairman Jeb Hensarling (R.,Tex.).

A few of the key talking points:

  • The Democrats entered the majority promising pay-go and complaining about deficits. The budget they are bringing to the House floor would double the deficit this year after three years of declines.
  • Somehow, they manage to double the deficit even while raising taxes by $683 billion over five years. This is, as you’ve probably heard already, the largest tax increase in history, and it comes to an average $3,000 extra per household in taxes.
  • The largest tax increase before this one was $241 billion over five years, and it came under President Clinton and the Democratic Congress in 1993. In 1995, after Democrats had lost Congress, Clinton said at a Houston fundraiser: “Probably people in this room still mad at me at that budget because you think I raised your taxes too much. It might surprise you to know that I think I raised them too much, too.”
  • Despite claiming to repeal the AMT, the Democrats plan to collect the mistakenly high taxes that it brings about by raising taxes elsewhere. They will also cut the child tax credit, bring back the death tax, increase the capital gains tax, and bring back the marriage penalty.
  • For those skeptical of the earmark issue, the alternative Republican budget assumes an earmark moratorium and thus removes $14.8 billion (last year’s level of earmarks) from the various appropriations committees.
  • The Democratic budget doesn’t address the looming crisis of entitlements. Ryan said that when his own children reach his age, future entitlement liabilities will force them to pay twice as much in taxes in order to pay for the same level of government services we have today.