Big Picture on GOP 2012 Budget - The American Spectator | USA News and Politics
Big Picture on GOP 2012 Budget

Here are the main numbers to focus on when discussing Paul Ryan’s Path to Prosperity budget for 2012 and ten-year spending blueprint:

  • The plan cuts $6.2 trillion in spending pver tje mext decade relative to President Obama’s 2012 budget and cuts $5.8 trillion relative to the current-policy baseline.
  • It achieves $4.4 trillion in deficit reduction over the next decade compared to the president’s 2012 budget, exceeding the Bowles-Simpson Commission recommendations.
  • Non-security discretionary spending is brought below 2008 levels.
  • Federal spending is brought back to 20 percent of GDP, roughly its historic level, and drops to 15 percent by 2050.
  • Reduces the national debt by $4.7 trillion relative to the president’s budget and  pays the debt off over time.
  • Stops the $800 billion in new taxes imposed by the health care law, which the budget repeals and defunds, and $1.5 trillion in tax increases anticipated by 2012 Obama budget.
  • Lowers the top corporate and individual income tax rates to 25 percent.

The main number liberals seem to be focusing on? The $4 trilion in deficit reduction, which they (statically) project is equal to the Bush tax cuts. Remember that golden oldie? When the Gingrich Congress proposed Medicare reforms that would yield $270 billion in savings, liberals compared it to the size of the $245 billion tax cut.

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