White House spokesman Jay Carney called the bill "classic washington posturing kabuki theater," and said it would impose more draconian cuts to the nation's social safety net and Social Security and Medicare than the Rep. Paul Ryan's (R-WI) budget proposal, which was roundly criticized for balancing the budget on the backs of seniors.
Budget experts estimated that Ryan's budget would cost seniors an estimated $6,000 more a year in out-of-pocket costs. Jason Furman, deputy director of the National Economic Council said the new GOP balanced budget bill would require the government to cut spending above and beyond the Ryan plan by $1 trillion over the next 10 years, what he said would be "almost inconceivable" to do without taking a draconian hatchet to programs.
"You would need a 12 percent cut in all spending including Social Security and a 12 percent reduction in Medicare," Furman said.
Later on a conference call with reporters, White House Communications Director Dan Pfeiffer said the Cut, Cap and Balanced bill "enshrines into the Constitution the Ryan plan on steroids."