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4 Bumps

Have you heard about Paul Ryans Budget plan out today?

Link text

These are some key facts from the plan. The above article has a download of the entire thing in it if you want to read it.

SPENDING
Cuts $6.2 trillion in government spending over the next decade compared to the President’s 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 President’s
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 President’s budget over the next decade.
Surpasses the President’s 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 President’s health care law. Prevents the $1.5 trillion tax increase called for in the President’s 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.

Answer Question
 
itsmesteph11

Asked by itsmesteph11 at 12:52 PM on Apr. 5, 2011 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (35)
  • Am reading it now...

    grlygrlz2

    Answer by grlygrlz2 at 12:56 PM on Apr. 5, 2011

  • Within a decade medicare would be gone. Medicaid as a block grant, taking the money and running. States with such bad fiscal situations would have no choice but to drop the poor and disabled.
    Trying to roll back The Great Society while enriching the wealthy. What a dick
    adnilm

    Answer by adnilm at 1:06 PM on Apr. 5, 2011

  • Medicaid would be utterly dismantled by turning the entitlement into a system of state block-grants, essentially allowing states to spend the money on whatever healthcare priorities they want – which sounds fine at first blush, but would more than likely mean they’d forego spending on a lot of the neediest citizens out there, from the poor and elderly to the disabled. The fact is, states already have a lot of autonomy in crafting their version of the Medicaid entitlement. This would simply allow states to opt-out of paying for those who need it the most


    giving seniors a voucher that they can use to purchase insurance on the private, ahem, ‘market’


    It also said these numbers are if health care is repealed, which we all know isn't going to happen, so you can't rely on these numbers.

    mommom2000

    Answer by mommom2000 at 1:14 PM on Apr. 5, 2011

  • LOL! Thanks mommom. I knew I had hear something about (block grants) just what Adnilm posted. Looks like libs don't have a mind of their own. Don't you have anything better to come up with besides regurgitated left wing talking points?

    As for the numbers mommom, I believe they are pretty close though we all know nothing planned out years ahead is going to be exact. but it's much better than the big fat ZERO the Dems put out there.
    itsmesteph11

    Comment by itsmesteph11 (original poster) at 1:28 PM on Apr. 5, 2011

  • And you copying an article is using your mind?
    adnilm

    Answer by adnilm at 1:34 PM on Apr. 5, 2011

  • Obama's Health Care bill adds more financial strain on states while limiting their control. It is time to reign in the costs to states while giving them control of their spending. Ryan's plan gives the power back to the states. Which is more in line with the US Constitution compared to anything Obama has done in his term. Liberals in the federal government seem to want to push mandates on states. Mandates that are costly to states while. Giving the states control of their medicare and medicaid spending with block grants gives the control back to the states where it belongs.
    myame

    Answer by myame at 1:36 PM on Apr. 5, 2011

  • The Republican bromide -- cut federal spending -- is precisely the wrong response to this ongoing crisis, which is more analogous to the Great Depression than to any recent recession. Herbert Hoover responded the same way between 1929 and 1932. Insufficient spending only deepened the Great Depression.

    The best way to revive the economy is not to cut the federal deficit right now. It's to put more money into the pockets of average working families. Not until they start spending again big time will companies begin to hire again big time.

    Don't cut the government services they rely on -- college loans, home heating oil, community services, and the rest. State and local budget cuts are already causing enough pain.

    The most direct way to get more money into their pockets is to expand the Earned Income Tax Credit (a wage subsidy) all the way up through people earning $50,000
    adnilm

    Answer by adnilm at 1:37 PM on Apr. 5, 2011

  • – collapse

    , and reduce their income taxes to zero. Taxes on incomes between $50,000 and $90,000 should be cut to 10 percent; between $90,000 and $150,000 to 20 percent; between $150,000 and $250,000 to 30 percent. And exempt the first $20,000 of income from payroll taxes. Make up the revenues by increasing taxes on incomes between $250,000 to $500,000 to 40 percent; between $500,000 and $5 million, to 50 percent; between $5 million and $15 million, to 60 percent; and anything over $15 million, to 70 percent. And raise the ceiling on the portion of income subject to payroll taxes to $500,000. It's called progressive taxation.


    Tried and true!

    adnilm

    Answer by adnilm at 1:38 PM on Apr. 5, 2011 (hidden) + expand

  • Politically speaking Ryan's plan is extreme. Financially it is the right thing to do to control Federal government over reaching and over spending. I apologize for my spelling and sentence structure. Typing with one hand while holding a sick sleeping 2 year old.

    myame

    Answer by myame at 1:40 PM on Apr. 5, 2011

  • Robert Reich is notorious for false statements and bias half-truths. He wants to cut the Defense budget. Is he not aware of how many military actions the US has committed to? And how many more Obama may commit us to in the future?
    myame

    Answer by myame at 1:45 PM on Apr. 5, 2011

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