- Budget Hero, (Public radio)
- CBO Updated Budget Projections:, Fiscal Years 2012 to 2022 (March 2012)
- Baseline (2013-2022) = -1.4% of GDP
- Alternative Fiscal Scenario = -5.3% of GDP (2.5% change due to taxes, and 1.4% due to outlays)
- "Debt, Taxes and Politics: The President's Budget for 2013" Note the DEBT/GDP:
- Decreased from WW II till FORD
- a flat-ish period under FORD and CARTER.
- Increased under REAGAN and BUSH I,
- Started to Decrease under Clinton, and then
- Increased at the end of BUSH II and OBAMA.
- The president's budget seems to start decreasing the DEBT/GDP ratio in 2015
- What Caused The Deficit? ... The White House fought back with a chart showing that its policy changes contributed only a small fraction to the worsening deficit picture
- the BUSH II and OBAMA increase in the Debit was roughly equal to the Bush tax cuts, the Wars, the loss of revenue due to the recession and the automatic recession spending, with a short term, 3 years, also due to the Stimulus "TARP..., Recovery" packages.
- Individual Income Tax Breaks ~1.3 trillion/year
- A Roadmap for America’s Future {"Jan 2010, Republican house (Paul Ryan)} is a comprehensive alternative to the heavily government-centered ideology now prevailing in Washington, which pursues a relentless expansion of government, and creates a growing culture of dependency – and in the process worsens a status quo that already threatens to overwhelm the budget and smother the economy."
- Chairman Ryan Gets 62 % ... Budget Cuts from ... Lower-Income Americans (cbpp)
- Those at the very bottom of the income scale would see their after-tax income shrink by the largest amount under Ryan’s plan
- Ryan, and Exploding Deficits Comparison of Ryan, Obama, vs CBO projected Deficits
- CBO report on the first vintage (pdf)
- What’s In The Ryan Plan? by Paul Krugman
- Links
- Believe In America: Mitt Romney's Plan For Jobs And Economic Growth , and tax plan? (Media Matters "Romney's plan (NYT) does [defy math]. Nor can it be dubbed (Paul Kryugman) "the most fraudulent budget in American history" as Ryan's plan can") (if you actually made all the cuts he has proposed? ... The experts at the Tax Policy Center estimated that this would cost $456 billion a year, starting in 2015.)
Obama proposal to Joint Committee:
- Obama does have a deficit-cutting plan, one that's been lauded for its specifics and includes a combination of spending cuts and tax increases, with an emphasis on near-term stimulus and middle-term deficit reduction -- a hierarchy of priorities that coincides with the advice of economists, who note that unemployment is still the most immediate need. (PDF)
Simpson-Bowles proposal:
- On November 1, 2010 the committee submitted its final report making recommendations on discretionary spending, tax reform, health care savings, social security, and other mandatory programs. The plan needed a super-majority to be officially supported by the committee, but on December 3, 2010 if received only 11 of the 14 votes needed. (http://www.thepoliticalguide.com)
- What Was Actually in Bowles-Simpson? (From: The Center on Budget and Policy Priorities)
Ten-year cumulative totals in trillions of dollarsTotal plan Not yet enacted
Revenue increases $2.6 $2.6 Program cuts $2.9 $1.4 Interest savings $0.8 $0.6 TOTAL deficit reduction $6.3 $4.6 Ratio, program cuts to revenue increases Not counting interest 1.1 to 1.0 0.5 to 1.0 Counting interest 1.4 to 1.0 0.8 to 1.0
- The Congressional Progressive Caucus’s Budget for All puts Americans back to work, charts a path to responsible deficit reduction, enhances our economic competitiveness, rebuilds the middle class and invests in our future. Our budget makes no cuts to Medicare, Medicaid, and Social Security benefits, and asks those who have benefited most from our economy to pay a sensible share. Executive Summary: (PDF)
Paul Ryan (and Romney) negative links.
- Seven Things The Media Need To Know About Paul Ryan (Media Matters)
- Paul Ryan on the Issues: Taxes, Abortion, & More (Daily Beast)
- The Ryan Budget's Radical Priorities Provides Largest Tax Cuts in History for Wealthy, Raises Middle Class Taxes, Ends Guaranteed Medicare, Privatizes Social Security, Erodes Health Care (Center on Budget and Policy Priorities)
- Paul Ryan: Not A Moderate DW-Nominate evaluates him as being roughly as conservative as Representative Michele Bachmann,
- Why The Government Has A Health Care Cost Problem And Not A Spending Problem. The government spending for Social Security ~5% {of GDP}, and others ~10% through 2057 is relatively stable. Medicare and Medicaid, on the other hand grows from 4% in 2000 to 10% in 2037. Thus the problem is an increase of 6% in Health Care costs, which either is paid for by our taxes, or shifted to the private income rationing system , or the growth in health costs can be decreased MAGICALLY.
- Debt, Taxes and Politics: The President's Budget for 2013 -- Note: The president's 2013 budget seems to start decreasing the DEBT/GDP ratio in 2015 according to this post of the numbers of the OMB.
- Components of the current Deficit, (White House Chart)
- Three Charts on the Coming Budget Debate:
