Representative Paul Ryan is set to make public the House GOP Budget for Fiscal Year 2013, as required by law. The bill will no doubt pass in the House of Representatives, but once the Democrat-controlled Senate gets the Bill, it will die from neglect. The Senate under Harry Reid has not passed a budget for some 3 years. In contrast, the Bipartisan Senate Bill for the Highway Trust Fund, led by Barbara Boxer, will be considered by the House. Odds are that something will pass within two weeks. But the 2013 Budget should have priority, given the fact that the United States federal government has not had a working budget plan now for three years thanks to Barack Obama, Harry Reid and Nancy Pelosi.
While full details of the new Ryan Budget will not be made public until later this morning, we do know that it uses a very sharp pen in cutting spending. Already the Senate Democrats are upset that Ryan is cutting more from domestic spending, about $19 Billion extra, from proposed limits of last year′s Debt Ceiling compromise. There are also provisions for reductions in Medicare spending over time, though not as deep as Ryan′s budget proposal last year. The overall reductions in budget deficits is likewise less dramatic than last year′s budget plan, but still much better than the nonsense Barack Obama handed Congress. Obama′s budget claims to reduce federal budget deficits by some $3 Trillion dollars over the next ten years, but the non-partisan CBO scored the Obama budget plan and says that it will actually add some $3.5 Trillion to the National Debt.
So be prepared for a fresh round of political name-calling and buffoonery as Democrats squeal like wounded pigs when Rep. Paul Ryan releases the House GOP budget for 2013. The chorus of dissent will be doubly loud since this is an election year. Already the Barack Obama administration at the White House is using terms like ′death spiral′ to describe what the Ryan budget would do to Medicare. Of course, Obama and his Democrat cronies neglect the facts that Obama Care is the actual death spiral for Medicare, cutting some $500 Billion from it immediately. The House of Representatives will be taking up the Senate Bill for the Highway Trust Fund, sponsored by Barbara Boxer, over the next two weeks. This bipartisan bill is expected to pass, though with some modification. But when will, if ever, the Democrat-controlled US Senate under Harry Reid ever seriously take to the floor a budget proposal? They have not for the past three years are and unlikely to do so this year as well.
March 20th, 2012 at 1:08 pm
The budget targets most areas that are not acceptable to Democrats. It openly admits that it would actually repeal the Affordable Care Act by defunding it.
The budget focuses squarely on cuts of Medicare and Medicaid along with the elimination of the Alternative Minimum Tax. It pushes for $3 trillion in corporate tax breaks while we already have top 500 Fortune companies paying negative taxes. In other words, a huge tax increase on working families and not spending it on infrastructure, safety net programs, etc, but just writing corporations a check with it.
Endorsing this budget is just another endorsement of Plutocracy and social Darwinism. So it’s within the realm of rational thinking that you’ll see a push back from Dems on this.
And this is an example of how bad Republicans will rape working Americans if they get total control.
March 20th, 2012 at 2:49 pm
To begin with, ObamaCare already is defunding MediCare to the tune of $500 Billion. At present rates, MediCare and Medicaid are doomed to bankruptcy by 2017 under Obama’s spending habits. Ryan’s plan restructures and adds an element of actual need to these programs, such that people who can afford healthcare on their own will be ineligible.
Ryan rids us of the AMT, automatic minimal tax, which is now affecting more middle class than wealthy, thanks to Obama and the Democrats. They think the wealthy are anyone who makes more than $70K a year. Reducing the tax rates to just two, 10% and 25%, instead of six reduces paperwork. The new corporate rate will be 25% puts us in the norm of the international average. The House will determine which loopholes to close, so that is a fight that remains to be fought.
Talk about raping the working Americans, what do you think doubling the National Debt does? As of this week, Obama has equaled the deficit spending of 8 years of George W. Bush. And the year is far from over!
March 20th, 2012 at 10:17 pm
Boy the NYTimes spanked Paul Ryan today in its editorial pages… what a nightmarish view of the future this budget represents.
March 21st, 2012 at 3:45 am
Hah! The NYTimes??? The paper of record??? Give me a break! Even the Washington Post is more legitimate, usually by accident, than the Times.
Talk about nightmarish futures. How about Barack Hussein Obama bankrupting America? The guy has only added the same amount to the National Debt in roughly 39 months that took GW Bush 96 months to accumulate. Should Obama get reelected, and the Dems manage to hold the Senate, Obama will leave the White House accumulating as much, if not more, debt than all previous presidents combined.
Once our credit rating gets dropped a couple more notches, half the tax revenues will go for just paying the interest on the debt. Then you’ll see genuine Draconian spending cuts imposed upon us after the dollar collapses.
March 21st, 2012 at 4:00 am
A Z, do you even bother to consider what you write or do you mindlessly copy and paste or regurgitate unhinged gibberish?
That “$500 billion defunding of Medicare” that you accuse Obama of has been debunked so many times and in so many ways that it doesn’t even deserve a response.
ATM is the ALTERNATIVE minimum tax and no, it’s not a result of Omama and Dems wanting to tax people making over $70K. God, do you just make up any stupid shit you want when you have no argument or are you truly that ignorant or blinded by the kool-aid you over indulge in? Omama and Dems have never focused on raising taxes for people making under $250K. The ATN was enacted 40 years to ensure the wealthy (which at the time, was $70K ) not get away with paying nothing. Today, when $70K is not considered wealthy, the GOP wants to end ATM, closing loopholes for the middle class while preserving the for the more wealthy. From your own admission, the Ryan budget is fine with leaving corporate loopholes in place (let the House determine).
The Ryan plan is disastrous on every front, another gift for the wealthy at the expense of the working class. In all reality, it makes the debt worse as it simply pretends that austerity works, that those who fall through the safety nets (about 30 million will lose health care for 1) it eliminates will receive some manna from heaven or such and won’t have to be absorbed by the tax payers. It doesn’t pay for the $3 Trillion tax breaks it proposes for corporations.
In closing, you again concede you have no argument with your sophomoric “uh, yeah, well Obama spends more than Bush, so take that” nonsense, as if that somehow justifies this con game of the GOP to continue to coddle the wealthy at the expense of the middle class.
Bush took a solid economy and promptly crashed it to the ground. It’s been admitted by both side, economist of both parties, and even the GOP themselves, that the Bush/GOP era “lost their way”, forgot their principles” and “spent like drunken sailors”. They crashed the bus. Obama took to the wheel of that bus right after Bush and the GOP drove it off the cliff. So yes, getting that bus back up and running wasn’t easy or cheap. It required that evil thing called “spending”.
March 21st, 2012 at 4:54 am
Okay, so I boo-booed on the definition of AMT. Big deal! I got two-thirds of it right.
Who debunked the $500 Billion claim? Media Matters? Paul ‘Enron’ Krugman? We can really trust them, can’t we? They are just SOOOOOOO Objective! NOT!!!
I saw this morning on MSNBC even they have come to grips that the ‘Buffett Rule’ would ONLY raise some $30 Billion more in tax revenue over the next 11 years!
But seriously, where is the Democrat budget plan? Where is Harry Reid and the Senate’s budget? Its been three years since they’ve passed a budget. When are they going to stand up and be counted?
The Ryan Budget is a good plan as far as any of these 10-year plans are. But it falls way short of what truly needs to be done.
March 21st, 2012 at 10:32 am
As far as MM or Krugman goes, the tru this the truth regardless of who points it out. Simply because you don’t like or trust the messenger, it doesn’t make them automatically wrong.
As for the Buffett Rule, the real issue isn’t so much the $ amount the tax would generate in itself but the effect of the economy. When the ultra rich don’t have to pay taxes, there’s really no need to reinvest, take risk, or hire. On the other hand, if there $billions were subject to taxes, they’d be making business improvements, buying, hiring, building, in order to avoid taxes.
As Ryan’s plan is continued to be dissected, it’s become more obvious that’s it’s a transfer of wealth to the already wealthy, sending the bill to workers while doing nothing for the debt. Even Catholic bishops are calling it “shameful” and “immoral”. One Bishop referred to it; “By any measure of civility and regard for one’s neighbor, it is an immoral disaster”.
March 21st, 2012 at 12:21 pm
Actually, the Ryan plan begins to put an end to the transfer of wealth from the people to the government. Or, if you prefer, from the 50.3% who actually work and earn an income from being looted by the 49.7% getting checks from Uncle Sugar.
March 21st, 2012 at 1:20 pm
“When the ultra rich don’t have to pay taxes, there’s really no need to reinvest, take risk, or hire.”
Uh, what ?
You dont have to trust me. But I worry much more about my dollars worth and potential than Barry does. He stands to lose nothing if his policies fail. I cant say he’ll lose his job because frankly he never had it to begin with.
Get yourself some insight on fiscal management resulting in profits and then you’l be allowed to talk to people about investing their money for them at your risk if you really do carry a risk at all
The Fed has no motivation to garner a or break even. Its not their money, they dont care, theres always more they can take and if not then they’ll just mandate payment on some sht weve already paid for in three different ways. Call it a fare,tax,contribution,investment whatever.
From what I’ve heard, it sounds like the bum on the median with a sandwich sign that says, “will work for job”
And if I did hire you it would be for any position that demands you do not handle any currency.
The government has no interest in your success if it doesnt secure a vote for them.
They’re simply charging everyone for services in which the laws they say only they can perform, in which the private sector would excel and profit.