The danger of ‘slash-and-burn’ budgeting

Updated

Congressman Chris Van Hollen, the ranking member of the Budget Committee, dismissed the House GOP budget Thursday on NOW with Alex Wagner, saying, “We’ve seen from some of our European partners that austerity and slash-and-burn budgeting slows down your economy, rather than helps job creation.”

House Budget Chairman Paul Ryan is calling for deep, short-term spending cuts that he claims will close the budget deficit in ten years. While Ryan peddles the kind of austerity implemented across the pond, the former vice presidential nominee spent the past election trying to turn “Europe” into a  four-letter word. Ryan charged last summer, “We are on this path that the president has placed us upon where we will turn out just like Europe if we stick with these European policies.”

Van Hollen argued Thursday that steep cuts will only damage the economy, and perpetuate the national debt: “You shouldn’t sacrifice economic growth now on the altar of deep cuts and an austerity philosophy.”

Joy Reid filled-in for Alex Wagner today. Watch her full interview with Congressman Chris Van Hollen above.

The danger of 'slash-and-burn' budgeting

Updated