Sep 22, 2011

Paul Ryan's Arithmetic proves that Obama's Math doesn't add up. It's brutally honest and almost humorous if it were not so alarming.

You've heard Obama and his cliches, empty one-liners without any substance.  Now hear Paul Ryan with his rational exposition on what we're up against.  It is a must read for anyone who thinks about cheering to "Pass the bill." 

"Credibility Deficit Widens with President’s Third “Budget” in Seven Months

President’s “Math” Doesn’t Add Up
September 21, 2011

"In the span of seven months, President Obama has offered three different budget plans for the federal government. He offered an actual budget in February, a budget “framework” in April, and yet another tax-and-spend plan this past week (more spending in the “American Jobs Act”; more taxes in a new plan unveiled yesterday). Unfortunately, none of these approaches has provided the kind of leadership that America needs to lift the crushing burden of debt while promoting sustained economic growth.

The following House Budget Committee analysis unpacks the President’s widening credibility deficit – on taxes, spending, debt, and gimmicks.

Tax Hikes on Job Creators: Contrary to claims of “balance,” the President’s latest tax-and-spend plan is dominated by higher taxes. Not including war spending and estimated savings in debt-service costs, 80 percent of the deficit-reduction claims take the form of higher taxes. At a time when economic growth remains stagnant and private-sector job creation remains elusive, the President’s calls for tax increases are deeply misguided.

Doubles Down on Health Care Rationing: This Administration’s misguided approach to health care spending is most evident in its doubling down on the President’s new health care law. Instead of offering a plan to save and strengthen critical health and retirement security programs so that government can keep its promises to current and future generations, the proposal claims that 90 percent of its Medicare savings will come from the same kinds of price controls that have failed in the past. If tried on the scale that the President wants, these restrictions would result in reduced access and denied benefits for current seniors.

Lack of Credibility Reveals Deeper Flaws: Rebutting criticism of a plan marked by divisive substance and marketed with partisan rhetoric, President Obama said yesterday: “It’s not class warfare. It’s math.” The President’s comments demand attention to the numbers. And the numbers underscore this President’s lack of fiscal seriousness. Because of empty promises made by politicians of both political parties, the federal government faces tens of trillions of dollars in unfunded liabilities. The President has called for even higher taxes and deeper Medicare cuts – yet “math” reveals that he is still not being honest with the American people on what will be needed to seriously confront our looming fiscal crisis.
The unavoidable truth of the matter is that this President remains wedded to an unsustainable trajectory of government spending. The tax increases and Medicare price controls he has proposed are insufficient to match the spending he’s promised.

More from   http://budget.house.gov/News/DocumentSingle.aspx?DocumentID=261076  or HBC Publications

My comment:  After reading Ryan's report, the problem with the US economy is shown to be sitting in the White House with a full diaper.  The solution, change him and change him now.

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