Tuesday, April 5, 2011

Paul Ryan Makes My Point

With 6.2 trillion in spending cuts over the next decade - and no new taxes - we still would have an annual deficit of $400 billion in 2021 (and $23 trillion of debt). Ryan's bold blueprint will balance the budget in about 30 years. Thats not a typo: THIRTY YEARS. I guess the deficits are not that urgent after all?

Representative Ryan deserves credit for specifying significant spending cuts. He is a serious pol and his party needs more like him. But with all of his efforts, the problem is not nearly solved. President Obama's plans don't balance the budget either, even if his Debt Commission recommendations were adopted in full.

So, where to from here? Hopefully, as the proposals are fleshed out and our problems are etched in high relief, the electorate will recognize the obvious. We need a lot more revenue as well as entitlement reform and spending cuts. Perhaps the parties should call President Clinton for advice. If federal revenues matched the Clinton era 20%+/GDP, Ryan's budget would balance in about eight years, rather than thirty...


Jim G. said...

Prove it

Baxter said...

For those that can't operate the Google machine all by themselves: