Paul Ryan has released his new budget. Relying in part on the January tax increases, it nonetheless proposes major but necessary spending reforms. In doing so, Ryan's plan achieves a small Federal Govt. surplus by 2023. Crucially, the budget addresses the imperative of restraining health care inflation in Govt. entitlement programs (the core driver of our national debt). This approach makes the hard choices that are necessary to restore fiscal balance for the post-baby boomer era. Ryan's total savings = $4.3 trillion.
Later today, Senate Democrats will also offer a 'budget'. Their first in four years. Unfortunately however, by considering the pre-released details of their proposal, it's obvious that the Democrats are messing around. And a sad joke at that, it actually increases 'stimulus' spending by $100 billion! The budget also raises $500 billion via closed tax loopholes (which will almost certainly focus on the man/woman behind the tree aka don't tax me- I want my government for free!) and vague health care savings from providers. Further, it only removes half of the DoD sequester cuts (a policy which would be catastrophic for the US Military). In short, this Democratic budget is about as serious as a Monty Python sketch. All this, for a paltry total savings figure of $1 trillion.
$1 trillion vs $4.3 trillion. It's apparent that Democrats are utterly disinterested in resolving America's debt crisis.
One final point, Paul Ryan has consistently said that he would be willing to negotiate with Democrats in pursuit of a final budget. In fact, re- his health care reforms, by being open to changes, Ryan was able to win the support of a liberal Democrat. Unfortunately, on the flip side the story is much different. Senior Democrats much prefer slander to dialogue.
