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Thread: House GOP to release budget blueprint that slashes spending

  1. #31
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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by AdamT View Post
    Sadly, the projected deficits from Obama's proposed budget are far lower than the deficits that would result from the proposed budgets of any of the GOP contenders (save Paul, but his would rocket us into a depression). Based on that, I would assume you are supporting Obama's bid for reelection. Yes?
    None of the Republican candidates have released a complete budget proposal subject to CBO scoring. The projections you are referring to are independent projections of future tax revenue based on the broad overview of the candidate's tax and spending proposals. Romney has praised both of Ryan's budget proposals and echoes his sentiments for addressing entitlement reform.
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  2. #32
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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by AdamT View Post
    Sadly, the projected deficits from Obama's proposed budget are far lower than the deficits that would result from the proposed budgets of any of the GOP contenders (save Paul, but his would rocket us into a depression). Based on that, I would assume you are supporting Obama's bid for reelection. Yes?
    Are you referring to the Paul Ryan budget or the Ron Paul budget?
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  3. #33
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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by Chiefgator View Post
    Are you referring to the Paul Ryan budget or the Ron Paul budget?
    I'm referring to projections based on the published plans of all the GOP candidates.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

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  4. #34
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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by Rhapsody1447 View Post
    None of the Republican candidates have released a complete budget proposal subject to CBO scoring. The projections you are referring to are independent projections of future tax revenue based on the broad overview of the candidate's tax and spending proposals. Romney has praised both of Ryan's budget proposals and echoes his sentiments for addressing entitlement reform.
    Let's be honest -- Ryan has yet to produce a real budget. His first budget relied upon completely ridiculous assumptions about GDP growth. His second go-round assumes over a trillion dollars in "unspecified" budget cuts. His new plan also makes laughable assumptions about projected revenues.

    Not an unbiased source (American Progress Tax and Budget Policy Director Michael Linden), but I think a pretty accurate assessment:

    [T]he House budget’s entire claim to deficit reduction is built on the foundation of those fantasy revenue levels. Without them, the debt goes up, not down. In fact, with all the House budget’s tax cuts properly accounted for, revenue would average just 15.3 percent of GDP from 2013 through 2022, not 18.3 percent. The result: deficits would never drop below 4.4 percent of GDP, and would rise to more than 5 percent of GDP by 2022.

    The national debt, measured as a share of GDP, would never decline, surpassing 80 percent by 2014, and 90 percent by 2022. By comparison, President Barack Obama’s budget proposal, released in February, would stabilize the debt by 2015, and bring it down to 76 percent by 2022.
    Last edited by AdamT; 03-21-12 at 01:41 AM.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

  5. #35
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    Re: House GOP to release budget blueprint that slashes spending

    Hell, even Reagan figured out that you can cut taxes too far. Jeez, people. You've never paid lower taxes than you are right now.
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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by Tigger View Post
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