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An Unserious Man

Posted on August 20th, 2012 at 20:46 by John Sinteur in category: News -- Write a comment

[Quote]:

Ryanomics is and always has been a con game, although to be fair, it has become even more of a con since Mr. Ryan joined the ticket. …To focus things a bit more, let’s talk — as most budget discussions do — about what’s supposed to happen over the next 10 years. …On the tax side, Mr. Ryan proposes big cuts in tax rates on top income brackets and corporations….and the revenue loss from these cuts comes to $4.3 trillion over the next decade. On the spending side, Mr. Ryan proposes huge cuts in Medicaid, turning it over to the states while sharply reducing funding relative to projections under current policy. That saves around $800 billion. He proposes similar harsh cuts in food stamps, saving a further $130 billion or so, plus a grab-bag of other cuts, such as reduced aid to college students. Let’s be generous and say that all these cuts would save $1 trillion. On top of this, Mr. Ryan includes the $716 billion in Medicare savings that are part of Obamacare, even though he wants to scrap everything else in that act…..so if we add up Mr. Ryan’s specific proposals….he effect would be to increase the deficit by around two and a half trillion dollars.”

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