March 13, 2013
On Tuesday, March 12, Rep. Paul Ryan released the Republican FY14 Budget proposal: The Path to Prosperity, A Responsible Balanced Budget. It is difficult to see how it is either balanced or responsible.
As the New York Times noted in today’s editorial, this budget is nothing more than “a retread of ideas that voters soundly rejected, made even worse, if possible, by sharper cuts to vital services and more dishonest tax provisions.”
Also, as Ezra Klein points out in today’s Washington Post: “Here is Paul Ryan’s path to a balanced budget in three sentences: He cuts deep into spending on health care for the poor and some combination of education, infrastructure, research, public-safety, and low-income programs. The Affordable Care Act’s Medicare cuts remain, but the military is spared, as is Social Security. There’s a vague individual tax reform plan that leaves only two tax brackets — 10 percent and 25 percent — and will require either huge, deficit-busting tax cuts or increasing taxes on poor and middle-class households, as well as a vague corporate tax reform plan that lowers the rate from 35 percent to 25 percent.”
Rep. Ryan claims to balance the budget within 10 years while lowering tax rates. He admits that some of this is due to the already-in-place tax increases on those earning mo