In a great piece entitled "Don't Blame the House", at The American Spectator, Peter Ferrara succinctly explains in the first three paragraphs, the Ryan plan, why it's worth it, and why Democrats so vigorously oppose it.
The indisputable facts show that Congressional Republicans have done their job. Months ago, the House Republican majority passed the budget proposed by House Budget Committee Chairman Paul Ryan (R-WI). Ryan's budget provided for $6.2 trillion in spending cuts for its first 10 years alone. Over the long run, it drives federal spending to 15% of GDP, well below the postwar historical average of 20%.Ryan's budget included tax reform to get the economy booming again, with a 25% top income-tax rate for incomes over $100,000 a year, and a 10% rate for incomes below that. The internationally uncompetitive federal corporate tax rate of 35% would be reduced to 25%, which would return federal taxes to their long term, postwar, historical average of 18% of GDP. Because that figure is higher than our spending, the Ryan budget eventually pays off the national debt entirely.Yes, that takes decades. $14 trillion is a big debt to pay. It takes that long because the careful reforms are designed so that no one is actually hurt by the changes -- senseless Democratic rhetoric to the contrary notwithstanding. The Democrats just don't like it because by reducing government dependency it threatens their political machine.
Read the whole article. The Ryan plan - 2013 should see its resurrection.
Close to 3 trillion dollars more debt by the end of 20121 Close 7 to 10 trillion more to the debt over the next decade! While the Republicans made an attempt, its not near good enough!
ReplyDeleteUntil every one in this country gets it through their thick skulls that one cannot spend money they either do not have or will never get this country will continue its downward spiral. We either take the medicine now or start the amputations as the gangrene spreads. There is really no middle road here!
I wanted to hurl as Obama and the rest of the scum gloated about the "deal"! Never once did I hear anything about the trillions of worthless money they will now print to support this boondoggle! This clown of a President dares to lecture other countries as to their debt while in fact single handily leading the destruction of the greatest economy in the greatest country ever!
I wanted leadership and except for the extreme few like Ryan, all we got was another dose of "bend over and kiss your ass"!
When even MSNBC claims we are on the edge of a double dip recession, things must be bad! But when one looks at the fact that we are already bankrupt in every way except someone having the balls to declare it, the term recession pales as compared to the depression that is going to hit like a 9.0 earthquake. It's already starting and with the deal struck last night, I'm afraid there is no turning back!
Take a deep breath Joe. This budget deal clearly, does not do enough, and there's definitely going to be some smoke and mirrors behind the numbers, but there are some positives to come out of it. For that reason I think it's a step in the right direction.
ReplyDeleteInstead of answering in detail in the comments, perhaps I will just create a new post today.