Posted on 04/05/2011 4:16:57 PM PDT by SeekAndFind
The Paul Ryan deficit-elimination plan assumes that unemployment will drop to 2.8% by the year 2028.
As Paul Krugman points out, the only time we've been at this level was briefly, during the Korean War. Even during the crazy .com, unemployment barely broke below 4%.
Seriously, if Obama announced a plan with something like that, he'd be mocked left and right.
And again, via Krugman, the Heritage Foundation table pointing out the number. You can see the 2.8% estimate in the very bottom right hand.
(Excerpt) Read more at businessinsider.com ...
There is a way of looking at the world that makes no sense. A bit like a Roman in the 5th Century looking at the men who sacked Rome as the saviors of Rome. Ironically, they were, but only over the course of an thousands years.
Right, but you have to start with some number. I have to feel at an existential level what Dennis Praeger said about Roe. It had destroyed the nation we were and might have continued to be. Just like the Great War destroyed England.
Freeze this. Cap that. Attrition. Slow the *growth* of government. And on and on and on.
It’s the same old BS while kicking the can down the road.
Sorry I don’t have time to share with you more, but if this is what Republicans think of as “Bold” we’re screwed.
IF you think this opinion makes me sound liberal, so be it.
Gotta run.
Just as I figured, you didn't read it.
I doubt if Ryan is trying to sack Washington. I think he really is concerned about the future of the U.S.
I wish Americans would remember the old saying: “What the Government gives, the Government can take away”
I think everyone is going to learn that lesson very soon.
However, I want the Repubs to go after the Alpabet agencies that have long ago either become irrelevent, or have over stepped their bounds.
The Vandals are in the White House.
Even a broken clock is right twice a day. Getting unemployment to 2.8% is, frankly, impossible. At any given time 4.5% to 5% of people are going to be temporarily out of work either because they quit, or were so incompetent that they got fired. No budget can prevent people from being unhappy at work, or crappy at the job they have.
If Ryan’s revenue and spending projections depend on 2.8% unemployment, he is using funny math.
Wrong. It must be you that didn’t read it.
“The reforms called for in this budget aim to slow the federal governments unsustainable growth, and reflect the
growing frustration of workers across the country at the different set of rules enjoyed by government
employees. It reduces the public-sector bureaucracy, not through layoffs, but via a gradual, sensible attrition
policy, permitting the federal government to hire only one new employee for every three federal workers who
retire. By 2014, this reform would result in a 10 percent reduction in the federal workforce.”
Blah, blah, blah.
The Demoncrats and Media will make mincemeat of it with the entitlement class voters. There may not be enough taxpaying voters left to stop the madness. We will go the way of Cuba.
“The Vandals are in the White House.”
SOOOOOOOOOOOOOOOOOOOOOo TRUE!
Look, 2028 is 17 years away. If Krugman wants to mock that, he ought to come up with his own numbers—which will also be mocked.
Why not, instead, mock BO’s piss poor prediction of UE below 8% when HIS window was only a year and a half? And it cost $1 Trillion in “stimulus”?!
Ryan’s vision, bottom line, is of a smaller federal footprint in our lives. And that is better than anything Krugman or BO has proposed. Ever.
KEY FACTS
SPENDING
Cuts $6.2 trillion in government spending over the next decade compared to the Presidents budget, and
$5.8 trillion relative to the current-policy baseline.
Eliminates hundreds of duplicative programs, reflects the ban on earmarks, and curbs corporate welfare
bringing non-security discretionary spending to below 2008 levels.
Brings government spending to below 20 percent of the economy, a sharp contrast to the Presidents
budget, in which spending never falls below 23 percent of GDP over the next decade.
DEBT AND DEFICITS
Reduces deficits by $4.4 trillion compared to the Presidents budget over the next decade.
Surpasses the Presidents low benchmark of sustainability which his own budget fails to meet
by reaching primary balance in 2015.
Puts the budget on the path to balance and pays off the debt.
TAXES
Keeps taxes low so the economy can grow. Eliminates roughly $800 billion in tax increases imposed by
the Presidents health care law. Prevents the $1.5 trillion tax increase called for in the Presidents budget.
Calls for a simpler, less burdensome tax code for households and small businesses. Lowers tax rates for
individuals, businesses and families. Sets top rates for individuals and businesses at 25 percent. Improves
incentives for growth, savings, and investment.
GROWTH AND JOBS
Creates nearly 1 million new private-sector jobs next year, brings the unemployment rate down to 4
percent by 2015, and results in 2.5 million additional private-sector jobs in the last year of the decade.
Spurs economic growth, increasing real GDP by $1.5 trillion over the decade.
Unleashes prosperity and economic security, yielding $1.1 trillion in higher wages and an average $1,000
per year in higher income for each family.
Scrutinize the statements, then do the real math. It doesn’t add up. Overall, it’s weak.
It sounds good on the surface but the details don’t match the rhetoric.
Don’t get me wrong — it’s better than any Democrat would ever put forward.
But overall, it is a disappointment, especially given all the hype (”Path to Prosperity”? LOL).
By the time Congress “compromises” to get agreement on the budget, we’ll be on the same Obama path to destruction.
Heritage--Morning Bell: Chairman Ryans Budget Resolution Changes Americas Course
The analysis
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