As it stands, Paul Ryan’s budget is a political compromise — enough to produce greater savings than Obama’s, without too much Tea Party militancy. Under Ryan’s plan, total federal spending as a percentage of the economy remains about one percentage point higher than it was during Bill Clinton’s second term. The growth of Medicare benefits would be limited over time, but they would also become more... [more]
As it stands, Paul Ryan’s budget is a political compromise — enough to produce greater savings than Obama’s, without too much Tea Party militancy. Under Ryan’s plan, total federal spending as a percentage of the economy remains about one percentage point higher than it was during Bill Clinton’s second term. The growth of Medicare benefits would be limited over time, but they would also become more progressive since the program would be means-tested. A budget that is radical when compared to recent history is also moderate when compared to the fiscal challenge.
Obama, in contrast, has largely failed the deficit test, combining unrealistic proposals with politically charged attacks on alternatives. The administration’s approach is also radical — but few fear it because it is so unlikely to be applied.
Obama’s continual tightening of cost controls within Medicare is eventually indistinguishable from government rationing. This becomes a scandal when moved from a budget chart to a hospital room.
And the president’s talk of tax increases on “millionaires and billionaires” is a transparent distraction. There simply aren’t enough of the spectacularly wealthy to meet Obama’s considerable revenue needs. More serious Democrats talk of repealing all of the Bush tax reductions, not just those on the rich — raising $3.9 trillion in revenue over the next decade. The problem is that more than $3 trillion of this total would come from those making less than $250,000 a year — a group that Obama is honor-bound to protect from pillage. . . .
Democrats propose to fund historically high levels of spending by taking in a larger percentage of the economy in taxes. Megan McArdle, economics editor for the Atlantic, estimates that a tax increase of 5 or 6 percent of GDP would require everyone’s tax burden to increase by a third. Economic growth would be undermined. Wealth would move toward nontaxable investments and shelters. The American economy would be less competitive in the world.
http://www.washingtonpost.com/opinions/how-serious-are-we-really-about-the-deficit/2011/04/27/AFxMBr0E_story.html[less]
Response by alanhart
almost 15 years ago
Posts: 12397
Member since: Feb 2007
You forgot to cite the exact attribution, LICcomm, which the Washington Post shows as "Opinion Writer". Empty calories, LICcomm.
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Response by bjw2103
almost 15 years ago
Posts: 6236
Member since: Jul 2007
LICC, there are surely hundreds of politically-inclined message boards. Can you focus your posts on real estate? This is ok every now and then, but getting to be a bit much, no?
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Response by LICComment
almost 15 years ago
Posts: 3610
Member since: Dec 2007
bjw, I post maybe 1/10 of these types of posts that Socialist does. Have you asked him to cut it back?
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Response by bjw2103
almost 15 years ago
Posts: 6236
Member since: Jul 2007
No, but he definitely should too. I'll do the same to be fair.
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Response by alanhart
almost 15 years ago
Posts: 12397
Member since: Feb 2007
So what if it's 1/10th, LICcomm. Maybe, LICcomm, it should be 1/50th, or 1/100th. What's the minimum quota that has been imposed on you by your cell, LICcomm?
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Response by Socialist
almost 15 years ago
Posts: 2261
Member since: Feb 2010
The Ryan budget balances the budget in 2040.
The Progressive Caucus budget balances the budget in 2021.
So who agian is not serious about the deficit LICC?
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Response by Socialist
almost 15 years ago
Posts: 2261
Member since: Feb 2010
The Progressive Budget seems to be quite popular over in England:
The only responsible budget in town
The Prog caucus budget would balance the books by 2021 (Ryan, by 2040, Obama by something in between). It would reduce deficits by $5.7 trillion by then. It would take publicly held debt as a percentage of GDP down to under 65% by then (it is now about 73% and expected to go higher).
How would it do this? Largely through cuts to the military and tax increases. I don't like some of the tax increases, especially the Social Security payroll tax ideas, which you can see on page 3 of the above link if you're curious. But other tax increases are good, like the Jan Schakowsky rates I've written about previously.
The Progressive Caucus budget calls for an immediate complete withdrawal from Iraq and Afghanistan. It is a fantasy.
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Response by alanhart
almost 15 years ago
Posts: 12397
Member since: Feb 2007
Why a fantasy, LICcomm? Explain yourself, LICcomm. With sound reasoning and logic, LICcomm.
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Response by Socialist
almost 15 years ago
Posts: 2261
Member since: Feb 2010
How is it a fantasy? Most soldiers have already left Iraq in case you did not hear.
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Response by Socialist
almost 15 years ago
Posts: 2261
Member since: Feb 2010
I would go further and drastically cut the number of soldiers in Germany. Why do we have 60,000 soldiers there? Are we still fighting the Soviets?
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Response by LICComment
almost 15 years ago
Posts: 3610
Member since: Dec 2007
Thanks for more idiotic comments about our military presence. Anyone who says we should remove our troops from Germany is absolutely clueless.
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Response by LICComment
almost 15 years ago
Posts: 3610
Member since: Dec 2007
That progressive budget also is a job killer, adding major taxes to business and capital.
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Response by LICComment
almost 15 years ago
Posts: 3610
Member since: Dec 2007
Liberals can never grasp what it is that generates economic growth. They think economic growth just happens and that government can take as much as it wants by taxing it to no effect.
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Response by alanhart
almost 15 years ago
Posts: 12397
Member since: Feb 2007
Bumper stickers instead of answers to questions that were put quite directly to you, LICcomm? Tsk Tsk.
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Response by Socialist
almost 15 years ago
Posts: 2261
Member since: Feb 2010
LICC, can you explain to this clueless Socialist how having 60,000 soldiers in Germany makes us safe? What will hapepn if we withdraw 30,000 soldiers?
You do know that Germany is an economic powerhouse in Europe and can easily afford to protect themselves, right? Germany is not some 3rd world country.
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Response by Socialist
almost 15 years ago
Posts: 2261
Member since: Feb 2010
We can also downsize our Air Force and replace piloted planes with drones. We can have the first pilotless Air Force.
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Response by alanhart
almost 15 years ago
Posts: 12397
Member since: Feb 2007
I vote that we exempt drones from personal income taxes.
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Response by Socialist
almost 15 years ago
Posts: 2261
Member since: Feb 2010
I second that. The last thing you want to do is anger a drone. I'm surprised some 16 year old computer geek has not "hijacked" a drone and taken it for a spin. If I knew how to hack govt. computers, there would be drones over LIC right now.
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Response by Socialist
almost 15 years ago
Posts: 2261
Member since: Feb 2010
Can I see your long form birth certificate LICC?
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Response by alanhart
almost 15 years ago
Posts: 12397
Member since: Feb 2007
Yeah, and not some cheesy mockup printed on leftover green safety check paper with yesterday's date stamped on the bottom somewhere.
You forgot to cite the exact attribution, LICcomm, which the Washington Post shows as "Opinion Writer". Empty calories, LICcomm.
LICC, there are surely hundreds of politically-inclined message boards. Can you focus your posts on real estate? This is ok every now and then, but getting to be a bit much, no?
bjw, I post maybe 1/10 of these types of posts that Socialist does. Have you asked him to cut it back?
No, but he definitely should too. I'll do the same to be fair.
So what if it's 1/10th, LICcomm. Maybe, LICcomm, it should be 1/50th, or 1/100th. What's the minimum quota that has been imposed on you by your cell, LICcomm?
The Ryan budget balances the budget in 2040.
The Progressive Caucus budget balances the budget in 2021.
So who agian is not serious about the deficit LICC?
The Progressive Budget seems to be quite popular over in England:
The only responsible budget in town
The Prog caucus budget would balance the books by 2021 (Ryan, by 2040, Obama by something in between). It would reduce deficits by $5.7 trillion by then. It would take publicly held debt as a percentage of GDP down to under 65% by then (it is now about 73% and expected to go higher).
How would it do this? Largely through cuts to the military and tax increases. I don't like some of the tax increases, especially the Social Security payroll tax ideas, which you can see on page 3 of the above link if you're curious. But other tax increases are good, like the Jan Schakowsky rates I've written about previously.
http://www.guardian.co.uk/commentisfree/michaeltomasky/2011/apr/21/usdomesticpolicy-congress-progressive-caucus-budget-plan-ryans-radicalism
The Progressive Caucus budget calls for an immediate complete withdrawal from Iraq and Afghanistan. It is a fantasy.
Why a fantasy, LICcomm? Explain yourself, LICcomm. With sound reasoning and logic, LICcomm.
How is it a fantasy? Most soldiers have already left Iraq in case you did not hear.
I would go further and drastically cut the number of soldiers in Germany. Why do we have 60,000 soldiers there? Are we still fighting the Soviets?
Thanks for more idiotic comments about our military presence. Anyone who says we should remove our troops from Germany is absolutely clueless.
That progressive budget also is a job killer, adding major taxes to business and capital.
Liberals can never grasp what it is that generates economic growth. They think economic growth just happens and that government can take as much as it wants by taxing it to no effect.
Bumper stickers instead of answers to questions that were put quite directly to you, LICcomm? Tsk Tsk.
LICC, can you explain to this clueless Socialist how having 60,000 soldiers in Germany makes us safe? What will hapepn if we withdraw 30,000 soldiers?
You do know that Germany is an economic powerhouse in Europe and can easily afford to protect themselves, right? Germany is not some 3rd world country.
We can also downsize our Air Force and replace piloted planes with drones. We can have the first pilotless Air Force.
I vote that we exempt drones from personal income taxes.
I second that. The last thing you want to do is anger a drone. I'm surprised some 16 year old computer geek has not "hijacked" a drone and taken it for a spin. If I knew how to hack govt. computers, there would be drones over LIC right now.
Can I see your long form birth certificate LICC?
Yeah, and not some cheesy mockup printed on leftover green safety check paper with yesterday's date stamped on the bottom somewhere.