Editorial: Ryan's Budget Plan Gets The Job Done

IBD Editorials ^ | April 5, 2011 | Staff

[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.

[okie01]

Y'know, people who make foolish accusations often don't get the courtesy of a response.

And this one will do for you.

[MontaniSemperLiberi]

Simple questions. Simple numerical answers. That’s all I asked of you. You couldn’t do it.

That’s the reason you only see the politics of it. You don’t understand the numbers. If you understood the numbers, your position would change.

Bond holders understand the numbers.