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Pay no attention to the people behind the curtain

Thursday, August 19, 2010

Keep Debt Alive!

by folkbum

Re: Paul Ryan's Roadmap:
The CBO says your road map would put spending at 22.2 percent of GDP in 2020 and 23.5 percent in 2040. With revenue capped at 19 percent, that means Paul Ryan stands for deficits that would be 3 percent to 4 percent of GDP for at least the next 30 years, which would balloon the debt by trillions, to 100 percent of GDP from 53 percent in 2009. If you're supposedly willing to make "the hard choices," why wouldn't you balance the budget as soon as the economy is back on track? What kind of "fiscal conservative" has a half-century plan to balance the budget?
Indeed, CBO projects the deficit in 2020 to be about the same under current continued policies and under Ryan's policies. Roll back the Bush tax cuts for the top 5%, and Obama's policies lower the deficit faster than Ryan's.

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