Wall Street Journal: The president's recent budget proposal would accelerate America's descent into a debt crisis. It doubles debt held by the public by the end of his first term and triples it by 2021. It imposes $1.5 trillion in new taxes, with spending that never falls below 23% of the economy. His budget permanently enlarges the size of government. It offers no reforms to save government health and retirement programs, and no leadership.
Our budget, which we call The Path to Prosperity, is very different. For starters, it cuts $6.2 trillion in spending from the president's budget over the next 10 years, reduces the debt as a percentage of the economy, and puts the nation on a path to actually pay off our national debt. Our proposal brings federal spending to below 20% of gross domestic product (GDP), consistent with the postwar average, and reduces deficits by $4.4 trillion.
A study just released by the Heritage Center for Data Analysis projects that The Path to Prosperity will help create nearly one million new private-sector jobs next year, bring the unemployment rate down to 4% by 2015, and result in 2.5 million additional private-sector jobs in the last year of the decade. It spurs economic growth, with $1.5 trillion in additional real GDP over the decade. According to Heritage's analysis, it would result in $1.1 trillion in higher wages and an average of $1,000 in additional family income each year.Despite these massive cuts, keep in mind that at the end of ten years, the debt still is not paid off. This should prove to be a very valuable fact for Republicans as Democrats will undoubtedly trot out their favorite buzz words like "radical", "draconian" and Chucky's favorite "extreme". This fact should also help the public begin to understand just how much bigger cuts must be if we really want to pay off our debt.
National Review has this video up and Paul Ryan does a very good job explaining our debt problem.
Via: Memeorandum
Via: The Wall Street Journal
Via: National Review
Via: National Review
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1 comment:
It is a the Ryan Road Map redux. He is giving the shaft to Americans that can least afford it. If you want honesty and hard truths than why portray an attack on the health and well being of Seniors and disabled children as simply one of those hard choices.Seniors and low income families with disabled children, or middle-aged men with who develop a heart condition for that matter, will be forced to choose from an array of private insurers and would still have to pay more for the same amount of coverage.So these people use their cute little vouchers to buy private insurance - which has administrative cost about 9% higher than Medicare or Medicaid - and when their vouchers run out, they have no more resources to pay for care. It is not about getting lazy people off their butts and finding a job to pay for their care. Many of those with poor health would love nothing better than to have the good health and physical stamina to work. If the private market system was capable of delivering this care one assumes they would do so. Leaving the sick and disabled to fend for themselves is not capitalism, or conservative or American, it is social-Darwinism. A philosophy kindred to what southern slave holders used to believe.
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