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cosmostein





Joined: 04 Oct 2006
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PostPosted: Tue Mar 12, 2013 9:26 am    Post subject: Ryan Budget 2013 Reply with quote

Quote:
BALANCED BUDGET

Ryan's proposal doesn't detail all of the assumptions he makes about certain variables like economic growth or when some of his proposals would go into effect. So it's hard to know exactly how he so quickly and steeply cuts deficits.

But lower spending and a revenue windfall from the fiscal cliff deal brokered over New Year's are key drivers.

His plan would leave the country's accrued debt at just under 55% of gross domestic product by the end of the decade, according to Ryan's estimates. That's well below the 77% projected by the Congressional Budget Office under current law.

It should be noted that CBO won't analyze Ryan's -- or Murray's -- budget resolution since each simply proposes targets for taxes and spending and does not detail legislative changes for hitting those targets.

SPENDING

Broad reductions: Ryan estimates that his proposals will grow spending at an average rate of 3.4% a year, rather than the 5% projected.

In 2014, his plan calls for $3.53 trillion in spending -- a little less than the $3.62 trillion projected by the CBO

By 2023, however, spending under the Ryan plan would fall about $985 billion below the level the CBO has projected for that year.

He would cut spending in several ways. For instance, he extends the lower caps on discretionary spending set by the 2011 Budget Control Act for two more years. So instead of applying them just through 2021, as the law calls for, they would extend through 2023.

Reform Medicare, preserve cuts: As Ryan did last year, he is proposing the creation of a Medicare premium support system starting in 2024. That means those 55 and older would not be affected.

Future seniors could choose between traditional fee-for-service Medicare and the premium support system, which would offer them a fixed amount of money to buy private health insurance.


http://money.cnn.com/2013/03/1.....an-budget/

Far more pertaining to spending cuts and taxation but those are the big points above, follow the link for more detail
Bugs





Joined: 16 Dec 2009
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PostPosted: Tue Mar 12, 2013 10:14 am    Post subject: Reply with quote

Is nobody watching what's really going on?

There aren't a lot of details here, so it is impossible to evaluate the document. The write-up doesn't mention, for instance, that this budget assumes that Obamacare is cancelled. That's about $1 trillion in expenses cut right there. But expecting Democrats to accept that is crazier than expecting the Republicans to raise takes to cover the present revenue shortfall.

The US is now borrowing 40 of every dollar it spends. This document seems merely to cut the rate of automatic increases that are the 'base line' of the US budget process.

How can you get the annual budgets back in balance this way? Over a decade, a slower rate of spending ... and eliminating the Democrats' flagship project ... and assuming an optimistic enough growth rate in the economy ... sure, it could work. Except ... who's going to buy all those bonds over the decade ... and what rate will the US be paying?

I am really disappointed in Ryan, going along with all this smoke and mirrors. This is the opening position in a negotiation ... and what can he negotiate away, with this document? The establishment Republicans are failing once again.

The truth is, this Congress cannot commit another Congress ... so all that counts is the next three or four years. Everything else is BS.
cosmostein





Joined: 04 Oct 2006
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PostPosted: Tue Mar 12, 2013 11:31 am    Post subject: Reply with quote

Is Ryan an establishment guy?
I always assumed he was a Tea Party guy?

http://www.teapartyexpress.org.....-president

That aside;
I agree with your concerns.

The repeal of Obamacare doesn't make it to the desk of the President.
If this budget assumes that, then there better be a strong plan B in the works.

The budget ticks a lot of nice boxes but generally speaking is nothing more then as you have stated a starting point to negotiate.

Its greatly disappointing because you have an opportunity to write a budget which should pass in the House, but will be DOA otherwise.

If its largely a document to showcase principal I would like to see a lot more of what needs to be done, rather then this populist gobbledegook.
Bugs





Joined: 16 Dec 2009
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PostPosted: Wed Mar 13, 2013 11:11 am    Post subject: Reply with quote

I think the Tea Party people like Ryan, because he does try and steer the House in a positive direction. But he's transitional, between the old guard and the Tea Party.

Besides, the Tea Party doesn't have answers. It wants the politicians to address what it sees as the issues. It wants spending to be cut, and they know that it will hurt.

My reading is that the budget has been constructed to show that Obamacare stands in the way of fiscal responsibility. It's a political document, hoping to become a hot potato in Obama's hands. Further, it isn't a budget so much as a set or targets and what it would take to achieve those targets.

Even if it were a real budget suggestion, it would only be a start of negotiations. That's the American system. The Senate would have an important input, there would be a resolution of differences, and it would go to the President.
cosmostein





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PostPosted: Mon Mar 18, 2013 9:49 am    Post subject: Reply with quote

Bugs wrote:
I think the Tea Party people like Ryan, because he does try and steer the House in a positive direction. But he's transitional, between the old guard and the Tea Party.

Besides, the Tea Party doesn't have answers. It wants the politicians to address what it sees as the issues. It wants spending to be cut, and they know that it will hurt.

My reading is that the budget has been constructed to show that Obamacare stands in the way of fiscal responsibility. It's a political document, hoping to become a hot potato in Obama's hands. Further, it isn't a budget so much as a set or targets and what it would take to achieve those targets.

Even if it were a real budget suggestion, it would only be a start of negotiations. That's the American system. The Senate would have an important input, there would be a resolution of differences, and it would go to the President.


We are entirely in agreement on this issue.
Obamacare is a problem in balancing the budget, but it isnt the most significant one.

A "political document" is a perfect description of this.

I also find its greatly vague, I like to sink my teeth into a budget.
In this case it seems a lot smaller then I am use to?
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Ryan Budget 2013

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