Posted on 04/05/2011 6:25:16 PM PDT by Kaslin
America's Fiscal Future: Paul Ryan's budget plan dramatically slows spending growth, gets entitlements under control and begins the arduous task of easing the nation's crippling debt load. So what's not to like?
As Congress argues over a measly $33 billion in cuts to the 2011 budget to keep the government from shutting down, the plan by House Budget Chairman Ryan for 2012 and beyond not only reverses the Democrats' profligacy but returns the U.S. to a path of fiscal responsibility.
The plan trims $6.2 trillion from President Obama's budget (see chart), driving outlays back below 20% of GDP, their historic average, and well below the 25% in Obama's budget.
As for the squealing of the Democrats over vicious "cuts," spending actually grows from 2011 to 2021 under Ryan's plan by $1.12 trillion — an increase of 31%, or 3.1% a year. So those who say government is being "slashed" are being disingenuous.
In contrast, since Democrats took over Congress in 2006, spending has risen $1.2 trillion, or 44%. That amounts to a yearly gain of 9% that has pushed us to the brink of insolvency.
One thing that Ryan does slash is the deficit — by $4.4 trillion over 10 years. That's $4.4 trillion less for our children and grandchildren to repay. More importantly, debt peaks at a projected 74.5% of GDP in 2013, then recedes to 67.5% by 2021 — vs. 87.4% under Obama's budget.
(Excerpt) Read more at investors.com ...
LOVE it!
Paul Ryan showed great courage in proposing this. I’d like for him to be Speaker of the House one day.
NO it doesnt. we still will add almost a trillion in debt every year for the next ten years. Are people really this stupid!!!! This plan is a crap. We need to cut 1.5 trillion every year just to break even.
RYAN: The “social reverse-engineer!”
In other words, it still adds trillions to the debt over the next decade.
And this is the “draconian” proposal??
Agree - CUT MORE
A fact that we (and the powers that be that run the campaign organizations) would be wise to remember going into 2012 - all the talk from Obama and the Democrats "inhertiing" all of these problems - they in fact inherited them all from themselves.
agree this plan is still a big fat joke!!!!!
Exactly right. This plan also totally cops out on Pentagon spending on our foreign empire which needs to be slashed. We can’t keep policing the world. We could save a trillion per year if we eliminated this empire including bases in over 120 countries.
If Paul “I voted for TARP” Ryan had real courage he would go after the Pentagon sacred cow and propose a budget that actually reduces overall spending. We can’t afford to keep policing the world.
I’m not sure I follow the math of this article.
Our government is currently running an annual deficit of $1.5 trillion.
Assuming the same rate of deficit spending without any modifications, $1.5t X 10 years = $15 trillion in additional debt that we’d rack up over the next ten years.
Ryan’s plan cuts $4.4 trillion over 10 years: $15t - $4.4t = $10.6 trillion.
Ryan’s plan still adds more than another $10 trillion to our national debt over the next ten years.
Doesn’t sound like much of a solution to me.
It’s astounding how deeply we’ve allowed our government to screw us. We need a balanced budget, period. But that won’t ever happen, because actually cutting Federal spending enough (>40%) would result in riots and probably civil war at this point. If we don’t get to a balanced budget quickly, we’re looking at total financial collapse, followed by riots and probable civil war.
We’re screwed.
It is totally meaningless, if Vampire-Care TOTAL defunding is not included somewhere down-the-line in this plan,....
.... as the “Exempt Ones” of the beltway, could then employ leveraged “taxation” by so called “health” paycheck withholding, anytime through any account.
did you forget the /sarc tag? Ryan's proposal is anti-conservative and destructive to our Liberties.
Ryan's budget proposes $4T spending per year -- insane. Bush's avg budgets were under $2T.
Ryan's proposal will increase the debt by $8T -- insane.
This is the same Ryan that has voted for Tarp, No Child left behind, Medicare Part-D and for ethanol subsidies.
Paul Ryan is foremost a technocrat. He has little reverence for our beloved Constitution. If he did, he would NEVER have voted as he did.
I pray that Ryan's proposal is quickly forgotten and thrown in the trash. I cannot believe conservatives are falling for this fraud of a proposal.
Makes one wonder if he stole your girl...
Right now, we have no apparent good options. Of all the budgets being proposed, this is the best that I know of.
Bingo, you got it. You remember when the Republicans were in charge the economy was thriving and unemployment was practically nonexistent. Almost as soon as soon as Pelosi took over as Speaker things changed for the worse. The economy started to go down and unemployment went up to 10.2% in 2009
Amazing, isn’t it?
bttt
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